Things to Consider…
	Monthly Mortgage Payment The sum of the loan's principle plus interest plus 1/12th of annual real estate tax plus 1/12th of annual home owner's insurance plus other items such as flood insurance, homeowners association fee and Private Mortgage Insurance (PMI).
	Down Payment Flaherty Funding has mortgages available for as low as 0% down. 20% or more avoids PMI.
	Cash to Close Each product carries specific amounts required at closing. With Flaherty Funding your closing costs are guaranteed.
	Real Estate Pro-Rations Tax, insurance escrow set up - some borrowers have the option not to escrow taxes and insurance.
	Seller Concessions Buyer, borrower can save by having seller share some of these costs.

Flaherty Funding is here to make sure your mortgage will suit you as well as your new home. With us, you have access to more than 100 affiliated lenders and a wide array of loan products.

Fixed Rate Mortgage
Terms in increments of 5 years (10,15,20,25,30). The shorter the term, the lower the rate. The principle and interest payment never changes.

Adjustable Rate Mortgage (ARM)
Rate stays the same for a period of time, 1, 5, 10 years etc., and then adjusted according to a specified index. The shorter the 'fixed' period, the lower the initial interest rate. The 'adjusted' rate has a cap - a maximum amount of interest.

ARM with Conversion
Many Adjustable Rate Mortgages have a feature that allows them to be converted from adjustable to fixed after a certain amount of time.

Short Terms, Micros
One month at a rate as low as 1.25% afterwards adjusting every month. This is designed as a low cost 'bridge-loan' in a home-purchase where new funds are expected in the near future.

100% Financing
Mortgage amount to equal to the value of the home purchased. High credit score of at least 700 required. This loan is for home buyers who wish to keep all their cash for home improvement and other needs

Purchase-Rehab
Mortgage amount to exceed the purchase price, but not issued at closing.

The initial appraisal is based on the projected completion of work - up to 90% of the home's value when it is rehabilitated. The new funds are distributed to a general contractor when work is done. The new higher payments begin after the funds are issued to the general contractor.

No Income Verification Mortgage (NIV)
Either fixed rate or adjustable, these mortgages are best suited to burrowers whose debt ratio would not be within an acceptable range, yet still have provable source of income for at least the past 2 years.

No Documentation Mortgage
Similar to NIV this is for borrowers who have very high credit scores, and thereby need not show a debt ratio, recent employment history or any documentation relating to income.

Sub Prime
For borrowers who have low credit scores, high debt ratios, unique properties or lack of verifiable liquid assets. The costs for Sub Prime mortgages are high, and a complete diagnosis of credit history is recommended.

Federal Housing Administration - FHA
2¼ % minimum down. Must income-qualify and have acceptable debt to income ratio. Mortgage Insurance Premium (PIM) required.

Credit score requirement not as strict as conventional (not government insured) products.

Veterans Administration - VA
No money down. Must have a VA Certification. Upfront PIM of 1 ½ % rolled into loan amount. Minimal closing costs. Flaherty Funding experts routinely deal with government-insured loans.

Jumbo Mortgage
Loan amounts of $333,700 and above are considered non-conforming or 'jumbo', and carry a higher rate. Flaherty Funding can provide mortgage loans up to any amount.