Loan Programs

	CONVENTIONAL MORTGAGE Conventional Fixed Rate Loan – Fixed Rate Loans are fixed in 15, 20, 25, or 30 year terms with the interest rate remaining fixed for the life of the loan. Conventional ARM Loan – Adjustable Rate Mortgage interest rates change periodically, usually in relation to an index, and payments may go up or down accordingly. The rate changes during the life of the loan based on movements in an index rate, such as the rate for Treasury securities or the Cost of Funds Index.back to top
	FHA MORTGAGE – Backed by the Department of Housing and Urban Development this mortgage offers the borrower the ability to put as little a 3% down payment and they can even finance “allowable” closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs. back to top
	203K FHA MORTGAGE – Same as FHA above but with the ability to finance home improvements that are needed. One mortgage is given based on the value plus improvements up to 115% of the future value. These improvements must be over $5000 and can be for a new kitchen, new bathroom, to add a garage or to structurally improve the property. They cannot be to add a swimming pool etc… back to top
	VA MORTGAGE – Backed by the Veterans Administration and the federal government it is similar to FHA except that you have to be a qualified Veteran or military person. back to top
	JUMBO LOANS - Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation. Cash out and No cash out refinance are allowable.  Single family detached, Condo’s, PUD’s and single-family second homes can be financed with no prepayment penalty.  back to top
	HIGH DEBT RATIO LOANS - Borrowers having the ratio of their monthly bills to their monthly income higher than 50% is considered a high debt ratio.  Loan programs are available for these borrowers, allowing them to finance the purchase of a home or property. back to top
	CONSTRUCTION LOANS - Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 90% of the cost of land plus the costs of construction. We offer a one time fixed rate closing or the traditional ARM products. back to top
	FLEX 97% - Similar to FHA but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 680. back to top
	INVESTOR LOANS – Used to finance 1-4 family properties that will be for investment. PROGRAM NOT AVAILABLE IN NEW YORK. back to top

Union Trust Mortgage Corporation
MA Licensed Mortgage Lender and Broker #MC0192
Licensed by the New Hampshire Banking Department #5502-MB

Equal Housing Lender. © 2003 Union Trust Mortgage Corporation. Trade/service marks are the property of Union Trust Mortgage Corporation and/or its subsidiaries. Some products may not be available in all states.