Products

At Northeast Home Loan, we offer a variety of mortgage products at competitive rates and prices.

Conforming

  • Freddie Mac
  • Fannie Mae
  • Portfolio
  • Fixed
  • ARM
 

Jumbo Elite

  • Competitive rates (Fixed & ARM)
  • Primary, Second, Investment
  • Purchase, Rate & Term up to 80% LTV
  • Loan amounts up to $2,000,000
  • $1 over conforming and super conforming Limits
  • One appraisal required
 

Portfolio Second Home

  • No LLPAs
  • Follows AUS and agency guidelines
  • Up to 90% LTV
  • Seasonal properties allowed

HomeReady

  • No LLPAs
  • Reduced mortgage insurance
  • Up to 97% LTV
  • Follows AUS and agency guidelines

VA

  • 100% LTV available for purchases and refinances
  • No mortgage insurance on purchases
  • Low fixed rates
  • High-Balance allowed with 25% guarantyLT
  • No LLPAs
  • Follows AUS and agency guidelines
  • 1-4 unit properties
  • Up to 85% LTV

HomePossible

  • No LLPAs
  • Reduced mortgage insurance
  • Up to 97% LTV
  • Follows AUS and agency guidelines

USDA

  • No downpayment required
  • Low 30 year fixed rates
  • Low guaranty fee
  • Conforming loan limits
  • No LLPAs
  • No LLPAs for purchase and Rate & Term refinances
  • .25 LLPA for Cash-Out
  • Loan Amounts up to $950,000
  • 1 Unit Primary – 95% LTV
  • 1 Unit Second Home – 90% LTV
  • Follows AUS and agency guidelines

HomeOne

  • First time homebuyers
  • Up to 97% LTV
  • No LLPA’s for borrowers under 100% of area median income
  • No income limits

GreenCHOICE Mortgage®

  • No LLPA’s for borrowers under 100% of area median income
  • $500 credit to borrower at closing
  • Finance up to $6,500 toward energy or water efficient improvements
  • Improvements can be done after closing maximum of 180 days
  • The LTV is based on lower of appraisal or total acquisition cost
  • No LLPA’s for borrowers under 100% of area median income
  • Finance up to 10% of the total acquisition cost or appraised value for improvements
  • The LTV is based on lower of appraisal or total acquisition cost
  • Improvements can be done after closing maximum of 180 days

Manufactured Homes

  • Double Wide and Single Wide
  • Primary and Second Homes
  • Must Be HUD approved
  • Singlewide must be newer than 10 years *After 09/11/23 this will be removed
  • Is available with other programs VA, RD and VHFA

Bank Statement

  • 12 or 24-month bank statement options
  • 660 minimum credit score
  • 85% LTV for primary residence
  • 75% LTV second homes & investment homes
  • No tax returns or tax transcripts required
  • Loan amounts up to $2M

Debt Service Coverage Ratio (DSCR)

  • Borrower is qualified based upon the cash flow of the subject property
  • 660 minimum credit score
  • 80% LTV for purchases and rate and term refinances
  • 75% LTV for cash-out refinances
  • DSCR to minimum of .80
  • Loan amounts up to $1.5M

Land Loans

  • Vermont Only
  • Fixed and Arms
  • Raw Land – Max LTV 65%
  • Land Development-Max LTV 75%
  • Manual Underwrite
  • 43% Max DTI