Types of Home Purchase Loans

  • At RPM, we appreciate that every client has unique financing needs. Our wide portfolio of loan solutions has been developed to meet your requirements and our trusted staff is available to make the selection process as efficient as possible. We understand that with options can come confusion, so our goal is to provide maximum clarity and benefit, regardless of mortgage type. Here is an overview of our loan options:

    • Jumbo

      • Fixed and ARM programs. Fixed options include 30, 20 and 15-year terms. ARM options include fixed period of 5, 7 or 10 years.
      • Interest-Only ARM programs (5/1, 7/1 and 10/1).
      • Asset-based amortization available.
      • Loans to $3,000,000
      • Delayed purchase financing up to $1,000,000.
    • Conforming

      • Loan amounts up to $417,000 on single family home (higher limits for multi units).
      • Fixed and ARM programs.
      • Available to 97% loan-to-value.
      • Primary, vacation and rental occupancies allowed.
    • Jumbo Conforming

      • Loan amounts above $417,000 and below MSA limit (inquire for specifics).
      • Fixed and ARM programs.
      • Available to 90% loan-to-value.
      • Primary, vacation and rental occupancies allowed.
    • FHA

      • Loan amounts to FHA high-balance limits per MSA (inquire for specifics).
      • Fixed and ARM programs.
      • Minimum 3.5% down payment. Great for first-time buyers.
      • Flip properties allowed.
      • Credit scores to 640, flexible debt ratios, seller contributions permitted.
    • VA

      • Loan amounts to high-balance limits per MSA (inquire for specifics).
      • Fixed and ARM programs.
      • Zero down payment required for eligible veterans.
      • IRRRL refinances.
    • USDA

      • Available in designated rural areas. Inquire with us for specifics.
      • Low and no-down payment options for buyers.
    • Financing Your Home with Less Than 20% Down

      • Piggyback mortgages options. No PMI payments.
      • Lender paid mortgage insurance. No monthly PMI payments.
      • Single and split premium mortgage insurance. Can be paid by seller.
      • Borrower paid, traditional, mortgage insurance up to 97% loan-to-value.
    • HARP, Homepath and Additional Fannie Mae Solutions

      • HARP refinance loans. Underwater properties OK.
      • Fannie Mae Homepath purchase loans.
      • RPM’s direct Fannie Mae access permits up to 10 financed properties.
      • Delayed purchase financing option for cash buyers. Recover your investment through a mortgage, within first 6 months.