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Citizens National Mortgage Corporation offers the following mortgage loan products for both 15-year and 30-year loans:


Government

FHA Fixed – A 96.5% loan-to-value insured Federal Housing Administration (FHA) mortgage loan at a fixed interest rate. The loan is assumable subject to qualifying by new buyer.

FHA Silent 2nd – 100% financing. The FHA loan is 96% loan-to-value and a 4% soft second by the lender with no payments. A portion of this 4% soft second loan has to be repaid if house sold within the first ten (10) years or forgiven if the original buyer still in the house at the end of ten (10) years.

FHA ARM – Ajustable rate mortgage. Interest rate adjusts annually to an index of the One Year Constant Maturity Treasury (CMT) . The Margin is 2.75%. Interest rate adjustments have a 1% annual cap and a 5% lifetime cap.

VA Fixed Rate – 100% loan-to-value mortgage loan insured by the Veterans Administration (VA) at a fixed interest rate.

FHA & VA Streamline Refinance – A refinance of a current FHA or VA loan at a lower interest rate than the original loan. This loan does not require re-qualifying for the loan. It can be no cash out of pocket.


Conforming

Refinances – 95% loan-to-value. All closing costs and prepaids can be added to the loan subject to the appraisal. No cash out of pocket.

FNMA – 95% loan-to-value fixed rate standard conventional loan with no prepayment penalty. Loan amount can be up to $417,000.

FNMA Flex 97 – 97% loan-to-value, fixed rate (owner-occupied only) conventional loan with no prepayment penalty. Loan amounts up to $300,700. Accepts gifts from relativies, employers, and non-profits as funds for downpayment or closing costs.

Texas Cash Out – Cash out on Texas homestead up to 80% of value. No prepayment penalty loan.


Non-Conforming

Jumbo A – A fixed rate loan above $417,000. Standard conventional loan with no prepayment penalty.

 

Citizens National Mortgage Corporation, 4200 S. Hulen St., Ste. 676, Fort Worth, TX 76109
Phone: (817) 735-1071 • Fax: (817) 294-1936 • Email: cnmcrg@aol.com

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