First Time Home Buyers- Programs designed to assist the first time homebuyer to obtain financing with more liberal guidelines. There are many advantages including a lower cash requirement and more liberal qualifying guidelines.

Debt Consolidation- If you are finding yourself juggling mortgage payments, credit card payments, car payments, insurance premiums, taxes, and another stack of bills, it is time to consider a debt consolidation loan. Our programs offer solutions that will get you back on solid financial ground, even if you're behind on mortgage payments or have past credit problems. We have a variety of products to help you consolidate your loans or pay off current debts. We can even reduce your monthly mortgage payments and help you pay off other obligations.

Programs available for Less than perfect credit Allows borrowers with less-than-perfect credit to qualify for loan to help buy a home, consolidate debt and/or lower payments or make home improvements. If you have experienced credit difficulties in the past, such as slow payments, collections, charge-offs, judgments, foreclosures, tax liens, and other types of credit problems, apply online to see how we can help you.

100% and 103% Financing -Ideal for first-time buyers, these low & no down-payment mortgages can help reduce or eliminate nearly every cost associated with obtaining a home loan. This loan program is perfect for those who do not have substantial savings for a down payment and who need help with closing costs.

Cash-out refinance
A refinance transaction in which the borrower receives additional cash that can be used for any purpose. The amount of money received from the new loan exceeds the total of the money needed to repay the existing first mortgage, closing costs, points, and the amount required to satisfy any outstanding subordinate mortgage liens.

Conforming Mortgages
Any loan that conforms to the underwriting guidelines of Fannie Mae or Freddie Mac is called a "conforming loan". Guidelines such as the maximum loan amount, down payment percentage, borrower and co-borrower credit, borrower and co-borrower income requirements, and appropriate property types.

Non-Conforming Mortgages
Any loan that doesn't conform to the underwriting guidelines of Fannie Mae or Freddie Mac is called a "non-conforming loan". Such guidelines exceeding the maximum loan amount, down payment percentage, borrower and co-borrower credit, borrower and co-borrower income requirements, and appropriate property types.

Fixed Rate Mortgages
A fixed-rate mortgage means the interest rate and principal payments remain the same for the entire life of the loan. Fixed rate mortgages are available for 10, 15, 20 and 30 year terms.

Adjustable Rate Mortgages (ARM)
An Adjustable Rate Mortgage (ARM) is a mortgage loan that is most widely known for its low starting interest rate (when compared to the 30 & 15 year mortgage loans). This low introductory rate is used to calculate the mortgage payment for a specified period of time. Once this introductory period is over, the interest rate is adjusted periodically based on a preselected index. The most commonly used index is the yield on the one-year Treasury Bill. The new interest rate is determined by adding this index to a set margin. There are a variety of adjustable rate mortgage programs available.

Jumbo Mortgages
A jumbo loan (also known as a nonconforming loan) is any mortgage over $417,000 (2007 figure) for a single-family home or condominium. This figure is set by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), and is adjusted annually. Jumbo loans are called nonconforming loans because these organizations will not underwrite them, making them more risky to lenders.

Home Equity Loan (Closed End Second Mortgage)
A home equity loan (often referred to as a second mortgage) is a loan for a fixed amount of money that must be repaid over a fixed term. Generally, a home equity loan: 1) Advances the full amount you borrow at the beginning of the loan's term 2) Carries a fixed rate of interest 3) Requires equal monthly payments that repay the loan (including the interest) in full over the specified term

Home equity lines of credit
When you receive a home equity line of credit (HELOC), you're approved for revolving credit up to a certain limit. Within the parameters of the loan agreement, you borrow (and pay for) only what you need, only when you need it. Generally, a HELOC: 1) Allows you to write a check or use a credit card against the available balance during a fixed time period known as the borrowing period 2) Carries a variable interest rate based on a publicly available economic index plus the margin 3) Requires monthly payments that may vary in amount, based on changes in your outstanding balance and/or the prevailing interest rate.

FHA Loan
A FHA mortgage loan is insured by the Federal Housing Administration (a division of the Department of Housing and Urban Development (HUD)). Although we provide the mortgage funds, the FHA sets underwriting standards for approving applicants. FHA underwriting guidelines are more lenient than conventional (not government insured or guaranteed) underwriting guidelines. This leniency makes it easier for borrowers to qualify for a mortgage loan (low down payment requirements and a higher monthly debt allowance). FHA limits the types of loan programs it insures, but it will insure the more popular 30 year fixed, 15 year fixed and one year adjustable loan programs. However, borrowers are limited to the amount that they can borrow using an FHA-insured mortgage. Applicable loan limits differ by county. We have a huge advantage over other lenders because we are FHA endorsed and are able to underwriter your file in-house.

VA Loan
A VA mortgage loan is a mortgage loan that is guaranteed by the Department of Veterans Affairs (DVA). One of the biggest advantages of using a VA loan is that the borrower can finance the purchase of a property with no-money down. However, VA loans are restricted to individuals qualified by military service. The DVA will guarantee the more popular 30 year fixed, 15 year fixed loan programs.

My Community Mortgage (100% Financing)
The My Community Mortgage program overcomes the most common barriers to homeownership including lack of funds for a down payment and closint costs, low qualifying income and non-traditional credit histories. Borrowers fitting this profile can benefit from the flexible guidelines and expaned qualifying ratios.

Out of State Loans
Northeast Mortgage now offers home loans for properties in all 50 states.

80/20
80/20 loans are also described as combination financing and offer a convenient way to provide creative financing in a purchase, refinance, home improvement, or debt consolidation transaction. In a purchase transaction, a second mortgage is frequently used in combination with a first mortgage to avoid paying Private Mortgage Insurance (PMI). The first mortgage is always set at 80% of your purchase price which eliminates the need for PMI. We add a second mortgage of 20% of the purchase price and you supply 0% cash. Several advantages to consumers using this approach include: 1) Your entire payment is tax deductible (mortgage insurance is not) and 2) You may decide to pay off your second early reducing your total payment.

80/10/10
80/10/10 loans are also described as combination financing and offer a convenient way to provide creative financing in a purchase, refinance, home improvement, or debt consolidation transaction. In a purchase transaction, a second mortgage is frequently used in combination with a first mortgage to avoid paying Private Mortgage Insurance (PMI). The first mortgage is always set at 80% of your purchase price which eliminates the need for PMI. We add a second mortgage of 10% of the purchase price and you supply 10% cash. Several advantages to consumers using this approach include: 1) Your entire payment is tax deductible (mortgage insurance is not) and 2) You may decide to pay off your second early reducing your total payment.

80/15/5
80/15/5 loans are also described as combination financing and offer a convenient way to provide creative financing in a purchase, refinance, home improvement, or debt consolidation transaction. In a purchase transaction, a second mortgage is frequently used in combination with a first mortgage to avoid paying Private Mortgage Insurance (PMI). The first mortgage is always set at 80% of your purchase price which eliminates the need for PMI. We add a second mortgage of 15% of the purchase price and you supply 5% cash. Several advantages to consumers using this approach include: 1) Your entire payment is tax deductible (mortgage insurance is not) and 2) You may decide to pay off your second early reducing your total payment.

No Income Verification (or Stated Income) loans
No Income Verification (or Stated Income) loans are available to borrowers who, for one reason or another, do not wish to or are unable to verify their annual income. An example of such borrowers includes those who are self-employed or on a commissioned salary, those who obtain revenue from sources they do not wish to divulge or those that receive all or a portion of their income in cash. While available as fixed or adjustable rate loans, the interest rate and/or costs may be slightly higher than normal to reflect the higher degree of risk involved in loaning to borrowers whose incomes have not been verified. Such risk is often offset to some degree by borrowers who have significant verifiable assets or who are borrowing only a small percentage of a property’s value.

No Income/No Asset loans
No Income/No Asset loans are the next level of reduced documentation loans. This loan type does not require income or assets to be verified. This, again, adds an additional level or risk, typically adding to the rate and requiring strong credit.

No Documentation loans
No Documentation loans are just that. An application is filled out, credit is run and that's about it. Income, Assets and employment are not even stated on the application. The interest rate and Loan to Value is determined by the strength of your credit.

Reduced documentation loans
A Reduced Documentation Loan eliminates the need to provide any income documentation that would typically be required on a full/alt. documentation loan. However, you must be able to "state" an income on your application that would be enough to support your monthly obligations. Asset verification and employment verification (excluding income) will still be conducted.

Construction Loan (single close)
If you are planning on purchasing a new home from a builder, realtor, contractor, etc. and would like financing on the finished product, we have mortgage loans to help you for a quick and convenient closing.

No Equity
If you just purchased your home and have no equity... we can still help you because we can loan you up to the value of your home (100% value of your home) We offer competitive rates on second mortgages and home equity lines of credit up to 100% of the value of your home.

No Downpayment Loans
No Downpayment Loans are either a 100% 1st mortgage or combine a 1st & 2nd mortgage (typically in a 80/20 mortgage). The advantages in either case are no cash down, and in the case of a combined 1st & 2nd more liberal qualifying guidelines and no mortgage insurance required. There are also 1st mortgages available up to 103% of value that permit inclusion of closing costs and/or payoff of debts.

Commercial and Mixed Use Properties
Commercial and Mixed Use Properties for purchase & refinance of 5 unit+ multi-family properties, mixed use properties, & a wide variety of business properties. Fixed & ARM programs with Standard Documentation requirements and also No Doc requirements (no documents on the borrower & minimal for the property/business. Hard Equity loans also available for unique situations.

A through D Credit Programs
Imperfect credit loans allow borrowers with less-than-perfect credit to qualify for competitive interest rates to buy a home, consolidate debt, lower payments or make home improvements.

Interest only mortgages
Interest only mortgages have finally gained immense popularity throughout the lending community. Imagine having an interest rate a full point or two lower for 5-10 Years at a fixed rate and with the option to only pay interest. Consumers can experience benefits such as increased cash flow, flexible principal payments and many other luxuries not available with traditional fixed rate loans.

Home Improvement Loans Home improvement loans can help you have the money to fix up or remodel your home. Home improvement loans will help you beautify your home for yourself or if you are planning on selling it. Slight improvements to your home will raise its value and make it more attractive. We can lend up to 100% of the value of your current home.