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Design Your Own Loan

Whether you've found your dream home or are thinking of refinancing your current home, Premier Bancorp works with so many different lenders and programs that you can virtually "design your own home loan." Even folks who can't get a mortgage from a prime lender often find exactly what they want and need in one of our programs.

For instance...

Does your dream home have a price tag that's a little too high? We handle adjustable rate mortgages and "interest only" home loans that will lower monthly payments so you can afford "more home."

Don't have a down payment? Our 100% financing will get you over that hurdle!

Have you been self-employed for less than a year? Our "stated income" home loans require no proof of income.

Have a high debt/income ratio? We have 3-year ARMs and interest-only loans designed just for people like you.

Challenge us with your situation!



 

Useful definitions:

ARM - A loan where the interest rate is adjusted periodically relative to a stated index. The payment increases or decreases as the index goes up and down
Loan-to-Value Ratio (LTV)
- The percentage of the fair market value of your home that you still owe on your loan. If you owe $80,000 on a home worth $100,000, your LTV is 80%.
Refinance - Taking out a new loan for a different amount and/or a different interest rate than your current loan. The original loan will be paid off.
Stated Income Loan - A loan which requires no proof or documentation of your income.

Want to know more? Visit Home Loan U!

 
 
 
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