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Mortgage Basics |
Thursday, July 03, 2008 |
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Single Family Residential
- Duplex and Triplex
- Owner Occupied: Generally
get the best interest rate.
- Rental: May get the best
interest rate.
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Rental properties
four units or less: May get rates at or below market.
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Vacant Land:
Generally up to 75% loan to value at Collateral Mortgage Rates,
which are slightly higher than normal first mortgage rates.
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Cottages:
Generally 75% or less loan to value at Collateral Mortgage Rates,
which are slightly higher than normal first mortgage rates.
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Commercial and
Industrial: This includes store front, mixed uses, office
buildings, manufacturing, warehouses, shopping plazas etc. Rates
may be at or below market depending on the strength of the applicant
and desirability of the project.
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