Partnership Lending | Purchase Loans

Purchase Loans

We can take the mystery out of buying a home. There's a lot of information to learn about purchasing a home. If you're confused about where to begin or how to get the right information, then you're not alone.

Relax! We've been helping people buy homes since 1987, and we're the experts who can answer all your questions.

We understand that every buyer sees something different when they picture their dream home. It could be a primary residence, a second or vacation home or an investment property. So no matter what you're looking to purchase, Evergreen Home Loans offers a complete range of mortgage options to help you finance it.

Learn the basics of your mortgage financing options:

Fixed Rate Mortgages
• Conventional 30, 25, 20, 15, or 10 Year Fixed Rate Loans
• Low Down Payment Loan
• No Down Payment Loan
• Reduced or No Documentation Loans
Adjustable Rate Mortgages (ARMs)
• Basic Adjustable Rate Loan
• Fixed Period ARM
Other Options
• Jumbo Mortgages
• Home Equity Line of Credit or Fixed Rate Second Mortgage
• Less-Than-Excellent-Credit Loans

Fixed Rate Mortgages

Conventional 30, 25, 20, 15, or 10 Year Fixed Rate Loans

This is your basic mortgage program. Homebuyers make a predictable, fixed mortgage payment consisting of principal and interest, which fully repays the loan by the end of the loan term. You can make as little as a 5% down payment.

Low Down Payment Loan

This loan program minimizes the amount of down payment you make.

No Down Payment Loan

This program allows you to finance the cost of your entire home purchase. You may even be able to finance your closing costs.

Reduced or No Documentation Loans

Depending on your credit, you may be able to qualify with very little paperwork. These loans are often used for self-employed people or people finding it hard to verify income.

Adjustable Rate Mortgages (ARMs)

Basic Adjustable Rate Loan

This is the basic adjustable rate mortgage. You begin with a low starting payment rate -- which is lower than the fixed rate. That rate adjusts up or down every 6 months or yearly as one of the leading financial indexes adjusts. The amount the interest rate can adjust is limited both over a specific period of time and during the entire life of the loan. This loan requires a little as a 5% down payment.

Fixed Period ARM

The initial rate for this loan program is fixed for the first 3, 5, 7, or 10 years. After the initial fixed period, it adjusts annually to correspond to a leading financial index, such as the 1-Year US Treasury Index. The amount the interest rate can adjust is limited both over a specific period of time and during the entire life of the loan.

Other Options

Jumbo Mortgages

This group of loan programs is designed for homebuyers needing to borrow more than the conventional limits set by Fannie Mae and Freddie Mac. Loan amounts can be as high as $2 million, and offer a variety of features:

• First mortgage and second mortgage combinations to a total of 100% loan-to-property value.
• Loan-to-Values greater than 80% (Low-Down Payment).
• Expanded Criteria Exceptions.
• No Ratio Loans.
• Reduced Documentation.
• Stated Income/Stated Asset Loans.
• No Income/No Asset Loans.
• Second Homes, Investment Properties, Condominiums.
• Foreign Nationals.
• Interest Only (for the lowest payment possible)

Home Equity Line of Credit (HELOCs) or Fixed Rate Second Mortgage

These loan programs can be added to the purchase proceeds of a first mortgage to keep your first mortgage at 80% loan-to-property value. This lets you avoid paying for mortgage insurance while maintaining a combined loan-to-property value over 80%.

Less-Than-Excellent-Credit Loans

Even if your credit is less than perfect, you still have options to purchase the home of your dreams. We have a wide array of fixed rate and ARM programs perfectly suited to fit your needs.