Products - Executive Home Lending

I don't have a lot of money for a down payment.

FHA

FHA

Executive Home lending offers the Federal Housing Administration Loan (FHA) to assist borrowers who may need a low down payment and flexible mortgage guidelines. The FHA loan is a great product that helps many people refinance or become homeowners.

  • low down payment required - Can be a gift; see your Executive Home Lending Loan Officer for details.

  • Under the FHA streamline program, current FHA loan borrowers can refinance with no appraisal.

  • Seller can contribute to borrower's closing costs.

VA

Veterans Affairs (VA) loans are making the dream of homeownership a reality for millions of veterans and military personnel. VA loans guarantee a maximum of 25% of a home loan amount up to $104,250 for qualifying borrowers.

One of the primary benefits of a VA loan is that it offers 100% financing for purchases and refinances without requiring mortgage insurance. Funding gifts are allowed and the seller can pay off veteran debt if necessary to qualify for the loan.

How it works

VA loans are equal opportunity loans for all qualified veterans and military personnel who meet service requirements.

Who It's for

  • Veterans and Military Personnel.

  • Qualifying borrowers who want low and no-down payment options.

  • Qualifying homeowners who want to refinance.

  • Veterans who want a loan without mortgage insurance.

ARMs

Executive Home Lending offers sophisticated mortgages to borrowers who may not expect to be in the home for a long period of time. The adjustable rate mortgage is fixed for a period of time and can adjust thereafter. Your Executive Home Lending Loan Officer will be glad to assist you in determining which mortgage program will best fit your needs. Since the interest rate may rise over time, it is not recommended for every borrower.

Fixed Rate

Executive Home Lending conventional loans come in a variety of options and with excellent advantages for borrowers who have a strong down payment. Under a conventional loan, a borrower with 20% equity can eliminate mortgage insurance.

While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types.

How is works

Executive Home Lending offers a variety of home loans with fewer restrictions than government loans and the possibility of eliminating mortgage insurance.

Who it's for

  • Homebuyers who don't want to add mortgage insurance to their payments.

  • Homebuyers shopping for properties commonly restricted by government loans.

  • Refinancers who want to drop mortgage insurance.

Freddie Mac Home Possible® Advantage

A Low Down Payment Advantage

Looking for a fixed-rate conventional loan that goes easy on the down payment requirement? Look no further than the Freddie Mac Home Possible Advantage mortgage. Home Possible Advantage is for qualified borrowers with good credit history who may have difficulty saving for a down payment.

Good Credit History May Earn a Low Down Payment

Home Possible Advantage perks are

  • Up to 97% LTV financing

  • Moderate to good credit scores eligible

  • Condos and Planned Unit Development single residences are allowed

  • Borrowers do not have to be first-time homebuyers

Interested? Find out more from your Movement Mortgage loan officer

Why Use Movement Mortgage?

At Movement, we understand buying a home is a serious investment for you and your family. Our fast, innovative 7 Day Process was created to get you through loan approval and to closing within days and without hassle. We won’t give you the run-around, and we’ll treat you like family. Our community of sales and support staff are genuinely excited for every buyer who becomes a homeowner, and for the chance to walk with you through it all. THAT’S a difference you’ll notice and love.

Disclaimers

This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.

FHA 203(b) Streamline Refinance

Reduce Your Homeownership Costs

You may be one of the thousands of homeowners who qualify for a reduced rate through an FHA 203(b) Streamline Refinance. Or, apply to reduce your insurance payments or remove a borrower from the mortgage.

Explore the Benefits of Streamline Refi

FHA 203(b) may help

  • Current FHA loan borrowers who qualify refinance without an appraisal

  • Qualifying borrowers remove someone from the loan

  • Homeowners who qualify reduce their rate

  • Qualifying homeowners who want a fast, limited documentation way to refinance

Interested? Find out more from your Movement Mortgage loan officer

Disclaimers

This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.

Jumbo

Financing Higher Value Homes or Investments

If you’re in the market for a home that requires a loan exceeding the conforming limit in your area, we have several options for you to consider. Movement Mortgage has the backing to offer jumbo loan programs for borrowers who want an amount ranging from $417,001 up to $2,500,000.

Moving Up or Purchasing a Higher Value Residence? Check out our array of options.

Standard fixed option on a purchase primary residence: loan amount up to $850,000 with maximum 80% LTV, may qualify with a FICO of greater than or equal to 680; ask for details on reserves, debt to income (DTI) and other restrictions (1)

Standard ARM Option on a purchase primary residence: up to $1,000,000, 80% LTV, may qualify with a FICO of greater than or equal to 700 with or without mortgage insurance; ask for details on reserves, debt to income (DTI) and other restrictions (1) Investment Property: (1 Unit) up to 60% LTV (1, 2)

Eligibility Highlights:

  • Single family dwelling attached/detached, planned unit development, warrantable condominiums

  • First-time homebuyer loans up to $1,000,000 (3)

  • High income and stable employment history required

  • Excellent credit, reserves and evidence of consistent mortgage payment history required

  • 10% minimum borrower contribution toward down payment (1)

  • U.S. citizens, permanent resident alien and non-permanent resident alien (no foreign nationals)

  • Asset depletion income can be considered on fixed-rate products; ask for details and restrictions

Ask for more details from your Movement Mortgage loan officer.

Disclaimers

(1) Eligible property type and occupancy: primary residence 1-2 units only with varying LTV/CLTV/HLTV, second home 1 Unit only, LTV based on loan amount, investment property 1 Unit only, max 60% LTV. Other restriction may apply. (2) Primary residence/purchase (1 Unit Only) loan options: Up to $850,000, 80% LTV/CLTV/HLTV, FICO 680 must provide documentation totaling a minimum cash reserves of 9 months of principal, interest, taxes, hazard insurance and assessments(homeowner’s association feed/dues/special assessments) – (“PITIA”) related to the subject property. Up to $1,000,000, 70% LTV/CLTV/HLTV with FICO >700, documentation totaling reserves of 6 months of PITIA is required. Up to $1,500,000, 80% LTV/CLTV/HLTV, FICO >720 documentation totaling reserves of 9 months of PITIA is required. Up to $2,000,000, 80% LTV/CLTV/HLTV, FICO >740 documentation totaling reserves of 18 months of PITIA is required. Up to $2,000,000, 70% LTV/CLTV/HLTV, FICO >720 documentation totaling reserves of 24 months of PITIA is required. Two full appraisal are required on loan amounts greater than $1,500,000. Value and property type restrictions apply, ask your Movement loan officer for details and restrictions applicable to all the scenarios eligible under the Jumbo loan program. Investment property/purchase: max $1,000,000, max 60% LTV/CLTV/HLTV, FICO >740, documentation totaling reserves of 36 months of PITIA is required. Investment property condo: the following restrictions apply to the state of florida Max 50% LTV/CLTV/HLTV FICO >740. Value and property type restrictions apply, ask your Movement loan officer for details and restrictions applicable to all the scenarios eligible under the jumbo loan program. (3) First-time homebuyer loans available for primary residence only (1 unit only), max loan amount of $1,000,000, Max 75% LTV/CLTV/HLTV, FICO >720, totaling reserves of 12 months of PITIA, max DTI 38%.

This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.

High Balance Mortgage Loans

Affordable Options for High Cost Areas

If you want to buy in an area considered high cost, or where properties typically exceed loan limits set annually by the Federal Housing Finance Agency, our high balance mortgage loans may be the solution you’re looking for. Movement offers high balance loans from both conventional and government home loan programs.

Movement High Balance Loans Offer

  • Competitive interest rates

  • Loan Amounts exceeding $417,000 in designated high-cost areas

  • Standard fixed-rate mortgages and adjustable rate mortgages (1)

  • Purchase, limited cash-out refinance or cash-out refinance options (1)

  • Financing for 1-4 Unit properties including condos (1)

  • Variable occupancy, including primary residence, second/vacation home and investment property (1)

  • Borrower-paid, lender-paid, monthly, single and split premium mortgage insurance plan options

  • High LTV options

  • No prepayment penalty

Interested? Find out more from your Movement Mortgage loan officer.

Disclaimers

This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.

Fixed Rate

Fixed Rate

Executive Home Lending conventional loans come in a variety of options and with excellent advantages for borrowers who have a strong down payment. Under a conventional loan, a borrower with 20% equity can eliminate mortgage insurance.
While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types.

How It Works

Movement Mortgage offers a variety of home loans with fewer restrictions than government loans and the possibility of eliminating mortgage insurance.

Who it's for

  • Homebuyers who don't want to add mortgage insurance to their payments.

  • Homebuyers shopping for properties commonly restricted by government loans.

  • Refinancers who want to drop mortgage insurance.

I am a Military Veteran or am actively serving.

VA

I want the lowest interest rate available

ARMS

I want to make sure my rate stays the same

Fixed Rate

I would like to reduce my monthly payments.

FHA

I want to get cash out of my property

Fixed Rate

I am a Veteran

VA

FHA

Executive Home Lending offers the Federal Housing Administration (FHA) Loan, to assist borrowers who may need flexible mortgage guidelines. The FHA loan is a great product that helps many people refinance.

Additional Information

  • Under the FHA streamline program, current FHA loan borrowers can refinance with no appraisal.

  • Up to 97.75% loan to value for a rate and term refinances.

  • Up to 85% loan to value for cash out refinances.

Fixed Rate

At Executive Home Lending, our Fixed Rate Conventional Mortgages offer the confidence of knowing your rate and payment will not change for the term of your loan. This is a great program for anyone planning on being in their home for a longer period of time.

Additional Information

  • Cash out available to 85%

  • As low as 620 fico available

  • Maximum loan amount of $417,000

  • Unlimited cash out

VA

Executive Home Lending is proud to offer those who have served and are currently serving the Veteran's Affairs (VA) loan. The VA loan is an excellent loan that can assist our veterans who may want to refinance to take advantage of a lower interest rate via an interest rate reduction refinance loan (IRRRL) or cash out.

Additional Information

  • Up to 100% of the home's value for cash out.

  • VA interest rate reduction refinance loan (IRRRL) simplifies the refinance process. Cash out not allowed.

  • Second home and investment properties allowed with the VA interest rate reduction refinance loan (IRRRL). See your Executive Home Lending Loan Officer for details.

First Time Homebuyer

10 Do's and Don'ts

Loan Checklist

Rent vs. Own

First Time Homebuyer

Step 1:

Get Pre-Approved.

The only way to truly know how much home you can afford is to ask a lender. Getting pre-approved lets you know how much you can afford before shopping for your home.

What to Know:

  • Income: Stable income assures a lender you can make your monthly mortgage payment.

  • Debt: Add up auto payments, credit card payments, student loans, alimony, child support, and other debt.

  • Cash: Total assets, amount in checking and savings accounts, and other investments.

Step 2:

Determine Monthly Mortgage Payment Including Escrow.

Escrow is a third party account used to retain funds including the property owner's real estate taxes and hazard insurance premiums. Escrow is only applicable in certain loan programs.

Step 3:

Understand Bills Associated with Homeownership.

Estimate that it will cost about one percent of the purchase price per year to maintain your home. For a $200,000 home, you should budget approximately $2,000 per year or approximately $170 per month for maintenance. Condominiums and co-ops will have regular maintenance fees. You will also have utilities, gas, electric, water, sewage, cable, telephone, insurance, property tax, etc.

Step 4:

Establish Future Priorities and Plan for the Unexpected.

  • What are your needs for the new home - furniture, lawn equipment, barbecue grill?

  • Do you plan on a new car in your near future?

  • Do you plan to have children?

  • How long can you survive if you lost your job?

10 Do's and Don'ts

  1. Don't apply for new credit of any kind.

  2. Do keep all existing credit card accounts open.

  3. Don't MAX OUT or overcharge existing credit cards.

  4. Do maintain your employment at your current job.

  5. Don't consolidate debt to one or two cards.

  6. Do pay off collections, judgements, or tax liens reported within one year.

  7. Don't make any large purchases.

  8. Do stay current on your existing accounts.

  9. Don't make any large deposits into any of your accounts.

  10. Do call us. We are here to help you through this process.

Loan Checklist

Use this checklist to make sure you have everything you need before you begin your loan application. Having all necessary documentation up front saves time so your loan can close smoothly and quickly.


  1. 2 years of tax returns.

  2. 2 years of W-2s.

  3. If self employed, 1099s and copy of business license.

  4. Most recent bank statements (all accounts and all pages).

  5. Explanation (signed and dated) of any deposits over $1,000 other than normal pay into accounts.

  6. Most recent pay stubs (minimum of 30 days).

  7. Copy of driver's license.

  8. Explanation (signed and dated) of any inquiries on credit report.

  9. Mortgage Statement, Insurance Declaration Page, and most recent tax statement for all other properties owned.

  10. Divorce Decree and Separation Agreement (if applicable).

  11. Copy of Earnest Money Check & Purchase Contract.

Rent vs. Own

Buy and begin building your own equity. Rates are at an all time low, and we are confident there is a program that is perfect for you. The benefits are endless!

  • You can't build equity in an apartment or rental property, but by owning your home you can!

  • Your rent payment is not tax deductible. By being a home owner the interest portion of your mortgage payment could be tax deductible. *Please consult your tax advisor.

  • Your rent almost always increases when your lease is renewed, but with a fixed-rate mortgage, the principle & interest payments never go up.

  • In addition to deducting mortgage interest, you may also be eligible to deduct costs paid at closing. As part of owning a home versus renting, you may be eligible for tax credits for improvements and other tax incentives.

PURCHASE PRICE

DOWN PAYMENT

MORTGAGE TERM

30 year
15 year

INTEREST RATE




Estimated Monthly Payment:
$429.25

This calculator is made available to you as a self-help tool. All examples are hypothetical and for illustrative purposes only. Any calculations assumes the theoretical borrower will have excellent credit and are based on information you have provided. Any amount calculated is an estimate only. The actual amount may be higher or lower depending on location, loan type, and many other determining factors. This information was prepared by an independent third party, and accuracy is not guaranteed. We encourage you to seek personalized advice from qualified professionals regarding all financial issues and needs.