Loan Programs

At Lend-Mor Funding, whether you’re purchasing a new home, refinancing an existing loan or consolidating debt, we offer a variety of loan programs, including first and second mortgages, construction, investment property and commercial loans, at the most competitive rates.

Our seasoned Mortgage Consultants can help you decide which loan program is right to meet your goals and expectations. (This table is for reference purposes only, actual program recommendations can only be made when evaluating your personal financial situation)

Years you plan to own the house	Recommended loan program
1 – 3 years	3/1 ARM, 1 year ARM or 6 month ARM
3 – 5 years	5/1 ARM
5 – 7 years	7/1 ARM
7 – 10 years	10/1 ARM, 30 year fixed or 15 year fixed
10+	30 year fixed or 15 year fixed

Loan Programs	Pros	Cons

Fixed Rate Mortgages	Fixed monthly payments Interest rate can not change Unchanged if rates increase Can refinance if rates decrease	Possible higher interest rate Possible higher mortgage payment *Rates don’t drop when rates improve

Adjustable Rate Mortgages	Lower initial monthly payment Lower payment for a set period of time Rates and payments may decrease May give you more buying power (higher loan amount)	Higher risk of rates increasing Payments may increase

Stated or No-Income Loans	Income is not verified Less documentation	Higher interest rates Higher payments

Flexible Credit Programs	More understanding of past credit issues May help you re-establish good credit rating *May reduce your overall monthly payment when consolidating debt	Higher interest rates Higher closing costs/points *May have pre-payment penalties

Home Equity Credit Line	Borrow only what you need Pay interest on only what you borrow *Interest may be tax deductible	rates and payments can fluctuate May it more difficult to refinance your first mortgage

Home Equity Fixed Loan	Fixed payments Interest may be tax deductible	Higher initial rate Have to borrow full amount

Besides those loan programs, we also offer many other unique programs that may satisfy your needs:
	100% financing, 0 down “Piggyback” loans, 80-10-10, 80-15-5 Debt consolidation		Construction Loans Reverse Mortgages *Home Improvement Loans