Mortgage Benefit Program

Whether you’re a first-time buyer, buying and selling, or adding to your real estate portfolio, Signature offers fixed-rate, conventional mortgages with multiple terms, as well as Adjustable Rate Mortgages (ARM).

Primary Residential Properties:

• Purchases are available for up to 97% maximum financing on Single Family Dwellings for qualified borrowers
• 90% on all Condos
• 75% on 1-4 Unit Dwellings
• Refinances are available for up to 97% maximum financing
• Cash out refinances are available for up to 85% maximum financing and require additional pricing adjustments based on the qualifications of each member’s credit score, credit history and income, loan-to-value (LTV), occupancy, loan purpose, payment type, and loan amount

Investment Properties:

• Purchases are available for up to 85% maximum financing
• Cash out refinances are available for up to 75% maximum financing; some restrictions apply – contact the Signature Mortgage Department for details
• Interest rates will be 1% higher than conventional rates
• 15-year maximum term

All Signature Mortgage Loans include the following:

• Three percent (3%) minimum down payment required on all real estate purchases*
• Rates and terms may differ and rate adjustments may apply based on the qualifications of each member’s credit history and income, loan-to-value (LTV), occupancy, loan purpose, payment type and loan amount
• APR calculations are based on loan amount up to $424,100 plus points
• APR calculations for Jumbo Loans are based on loan amount over $424,101 plus points
• Private Mortgage Insurance (PMI) is required for loans above 80% loan to value
• Property hazard insurance is required on all Real Estate Products and is not the same as PMI

*Private Mortgage Insurance is required on all loans above 80% LTV. Estimated down payment is $30.00 per $1,000 financed.