First National Mortgage Sources Cedar Knolls NJ

Programs

Basic 30/25/15/10 Year fixed Rate Loan*
Fixed principal/interest payment over the life of the loan. Offers a wide variety of loan terms to fit your home ownership goals. Fits owner-occupied primary residence, second home, investment property, 1-4 unit property options.

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Non Conforming Jumbo Loans*
Borrow amounts exceeding the conforming loan amounts (allowed by Fannie Mae/Freddie Mac). This loan typically has a slightly higher interest rate and different requirements for down payment than a smaller loans due to different underwriting requirement.

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Option ARM*
This loan packs in a lot of features including a low start rate and can provide monthly payment options. If you're looking for a low start rate for a purchase or refinance, this might be the loan for you. Here's how it works: Your statement will have up to 4 payment options (options vary each month). EACH MONTH, YOU CHOOSE WHICH PAYMENT YOU WANT TO MAKE.1

Minimum payment 2- The lowest payment based on the initial start rate ("payment rate").
Interest only payment - Pay only the interest portion of your payment.
15 year payment - pay off your loan as if it were a 15 year payment schedule
30 year payment - pay off your loan at the "Fully Indexed Rate"

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Less Than Perfect Credit Loans*
Expanded criteria allows for people with less than perfect credit to obtain a home loan that you can afford.

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3/5/7/10 Year Adjustable Rate Mortgage (ARM)*
This loan is a 30 year loan, with fixed payments for the first 3/5/7/10 years. These loans have a lower initial rate and can be ideal for borrowers planning to refinance or sell their home within that initial 5-year period.

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Interest Only Loans*
Qualified borrowers can make interest only payments for a limited period with the option to pay higher amounts to pay down the principal. Helps qualified borrowers afford more home or have more available cash each month.

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Construction Loans*
Building a new home let one of out advisors help you through the process.

First National Mortgage Sources is an equal opportunity lender
Terms and Conditions | License Disclosure

1The interest rate adjusts monthly and is based on the index chosen by Borrower, plus a margin. The minimum payment adjusts annually and is subject to a 7.5% payment cap per year. Every five years, or any time negative amortization reaches 115% (110% in New York), the minimum payment is recalculated over the remaining term of the loan based on the original 30-year term and the 7.5% payment cap does not apply. Assuming a 30-year loan amount of $225,000 an 80% loan to value and a one month effective rate of 1.00%, 5.248% APR, the initial minimum payment would be $723.69, subsequent payments will vary up to a maximum (30-year amortized) payment not to exceed $2,135.99. Lifetime maximum interest rate 9.95%. ARM rates subject to increase during loan term. Loan may be repaid in up to 360 monthly payments.

2Interest is accrued at a fully amortized rate (the "fully indexed rate") that is a higher rate than the "payment rate." The fully indexed rate is the rate on which the payment rate is calculated. Except for the first month, the payment rate (which results in the "minimum required payment" or "minimum payment") is not the rate at which interest is accrued. You are responsible for all interest accrued.

*not all programs are available in all areas. program restrictions apply, First national mortgage sources reserves the rights to broker out these loan options to investment companies.