$1.5 MM to 90%-No MI

Interstate is proud to offer an exclusive Jumbo Loan Program that allows up to 90% Loan to Value with no mortgage insurance and an Interest Only payment option.  This program is only available in select states that have stable values and Oregon qualifies.  Here are some things to know:

•   LTV 80%+ must have lived in home min. of 24 months.
•   Max Loan Size is $1,500,000
•   Credit Score is 680.
•   Refinance Only - Purchase capped at 80% LTV
•   Your expenses cannot exceed 45% of your income - (50% for Fixed Rates).
•   If you exceed 80% LTV you must show $250,000 in seasoned reserves/assets.
•   No prior history of bankruptcy.
•   Loan will have 2 year prepay.  Can be bought out for .30 to the rate.
•   Cash out max is $200,000 (LTV 80% or less)  or $20,000 (LTV 80%+) for debt payoff only.

This program will allow 1, 3, 5, 7, 10 and 30 Year Fixed.  Call the price line today and see what program makes sense for your situation.  The 3/1 Interest Only is priced on our rates section of the website.