Loan Programs
Home Purchase Programs
It is important that you understand the features of your home loan and that it meets your financial needs. We can assist you in that determination.
As a strong direct lender with the flexibility to also act as a broker, we provide choice, convenience, and control throughout the loan process. We offer a full suite of lending products because we recognize the importance of having the right loan for every situation. Below is a sampling of just some of the programs available through RWM.
Fixed-Rate Mortgage (40-, 30- and 15-Year Fixed)
We offer our borrowers the choice of 40-, 30-, and 15-year fixed-rate mortgages. These loan programs have the same interest rate for the life of the loan and monthly payments (principal and interest) that never change. If you escrow your property taxes and insurance, those expenses can change, which will affect your monthly payments. Fixed-rate mortgage may be a good choice if you plan to stay in your home for a long time or if you feel more comfortable knowing your payment cannot change.
Our company also provides an interest-only option for the 30-year fixed product, allowing you to pay interest only in the first 10 years and fully amortize over the remaining 20 years. This option will be more costly as you are paying interest on the total loan amount for the first 10 years. Additionally, if you have mortgage insurance, you will pay mortgage insurance for a longer period of time. Finally, the principal balance will not be reduced unless you pay more than interest only amounts during the first 10 years.
The 15-year fixed mortgage is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate — and you’ll own your home twice as fast and pay less interest than with a 30-year mortgage. But with a 15-year loan, you commit to a higher monthly payment.
Adjustable-Rate Mortgages (3/1, 5/1, 7/1, and 10/1 ARM Programs)
An ARM is a mortgage in which the interest rate and payments are adjusted periodically based on a pre-selected index. Subject to certain limitations, the rate and payments on an ARM loan rise and fall with the market.
Our 3/1, 5/1, 7/1, and 10/1 ARMs allow you to pay a lower introductory interest rate than many fixed-rate mortgages offer. Your interest rate and payment are fixed for the initial fixed rate period of 3, 5, 7, or 10 years, depending on the program you select. After the initial fixed period, your interest rate and payment will follow the movement of the index up and down, with certain limits. Our ARMs are among our most popular loans because they help you qualify for a larger home, there is no negative amortization, and your loan may be assumable after the fixed rate period of the loan. An interest-only option is available for these products. It is important to note that with an ARM, you may have a substantial increase in payment after the fixed-rate period and the interest rate over the life of the loan can typically increase five to six percentage points above the initial interest rate.
Refinance Your Home
Lower Your Monthly Mortgage Payments and Get Cash Out
Let us help you find a home loan with lower rates and more favorable terms. As expert mortgage advisors, we can assist with refinancing or consolidating your 1st and 2nd mortgages into one low rate loan. You may also be able to lower your monthly payments, and get cash out.
In addition to lowering your monthly payments, refinancing your mortgage(s) can help you maximize your tax deductions* and free up cash to pay off high interest rate credit cards and auto loans. Or if you prefer, use your cash equity for remodeling, investing, a vacation, or college tuition.
As a direct lender with hundreds of loan programs, we will find you the best refinance rates.
Specializing in:
- Cash out mortgage refinances
- 2nd Mortgage refinance/consolidation
- Low rate mortgage refinances
- Refinances into or out of interest-only loans
Government Loans
FHA
We offer residential mortgage loans insured by the Federal Housing Administration (FHA). FHA-insured loans offer many benefits, including lower costs, smaller down payments, easier qualification, and more protection to keep your home.
FHA Renovation Loan Program, Great for Fixer Uppers
The FHA Renovation Loan Program provides you with the money to purchase a home and renovate it, all with one convenient loan. This program is ideal for purchasing foreclosures and improving their value with needed repairs and upgrades.
VA
The VA loan program can make it much easier for veterans to secure a home loan by requiring little or no down payment. This home loan is available to veterans and guaranteed by the U.S. Veteran’s Administration, and it frequently offers lower interest rates than ordinarily available. In addition, with a VA-guaranteed loan, there is no private mortgage insurance requirement.
GSE Conforming-Jumbo
Government Sponsored Entities, Fannie Mae and Freddie Mac, new conforming-jumbo loan limits make it easier and more affordable for more buyers to “move up” and purchase higher-value homes, or save substantially by refinancing their jumbo loan. Lower FICO score and down payment requirements, lower-than-jumbo rates, and loans amounts of up to $729,750 in some areas create a powerful alternative to a traditional jumbo loan.
Jumbo and Super Jumbo Home Loans
As an experienced jumbo and super jumbo mortgage lender, we offer a variety of programs with competitive rates and beneficial features. Fixed rate, adjustable rate, and interest-only payment options are available. We also provide jumbo and super jumbo loans for investment properties and second homes, as well as cash-out refinancing.
Private Mortgage Lending
For the sophisticated borrower seeking total financial integration, and leverage for wealth maximization, there is only one name to know: Private Mortgage Lending. With direct access to private capital, we specialize in delivering personalized, advantageous solutions that can’t be found anywhere else. For maximum liquidity, maximum tax benefits, and maximum privacy, contact us for a confidential consultation.
Private Mortgage Lending Program Highlights
- Portfolio Lending with Exclusive Private Bank programs and resources
- Financing via Dual Collateral or Cross Collateral programs
- Lend to Corporations, LLC, and variety of Trusts including Blind Trusts
- No maximum loan amounts or No Cash Out Limits
- Construction Lending Available (Land, Construction to Perm)
- No Prepay Penalty
- Securities Based Pledged AssetLending Program
