Citywide Home Loans – Stephanie Simpson

CONVENTIONAL
Traditional loan programs that usually require at least 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary.

VA
Offers long term home loans to active duty US Military service members, eligible American veterans and reserves or their surviving spouses. Citywide offers reduced fees on VA Loans and even has Veteran Loan Officers on staff that can assist you with your VA Loan.

CONSTRUCTION LOANS
A short term interim loan for financing the cost of new home construction. The loan is made directly to the borrower and managed by Citywide’s experienced Construction Department.

STATE BOND
Programs that offer 100% financing to first time and repeat homebuyers. These low cost, low interest mortgage programs enable more people to invest in their own homes.

RURAL HOUSING
USDA programs that provide homeownership opportunities to individuals in qualifying rural areas.

JUMBO
Loan programs that offer financing for loan amounts greater than the convention or high balance limits.

FHA
FHA-insured loans require very little cash investment to close a loan as well as offering more flexibility in calculating household income and payment ratios.

HOME RENOVATION
Designed to create opportunities to repair or improve existing homes and increase the value of the home in a single mortgage with low, fully amortized, rates.

DOWN PAYMENT ASSISTANCE
Loan programs and grants designed to help homebuyers with a portion of, or all of, the down payment required to purchase their new home.

ARMS
A variable rate mortgage, ARMs typically have a lower initial rate than a fixed-rate mortgage. A cap limits the increases in P&I at each adjustment.

INTEREST ONLY

An interest-only loan is a loan in which, for a set term, the borrower pays only the interest on the principal balance, with the principal balance unchanged.

80/10/10
Commonly referred to as a piggyback loan, 80/10/10 eliminates the needs for the borrower to pay private mortgage insurance (PMI).

HECM
Home Equity Conversion Loans; For those 62 years of age or older, a HECM allows you to convert part of the equity in your home into a non-taxed source of income and avoid any future mortgage payments. Giving you the peace of mind that you can live in your home for life, as long as you continue to pay the property taxes and homeowners insurance.

AND MANY, MANY MORE
Citywide prides itself on having the products that our customers need. Don’t see the loan program you were looking for? Reach out to us and ask- we’re sure to have a program to fit your needs.