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Cascade Residential Mortgage, LLC offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:

 
Adjustable Rate Mortgage
Fixed Rate Mortgage
Full Doc Loan
VA LOANS
FHA LOANS
INDIAN HOME LOAN GUARANTEE PROGRAM
CONSTRUCTION LOANS
INVESTMENT PROPERTY LOANS
USDA 100% PURCHASE LOANS

Adjustable Rate Mortgage

An ARM is a loan that adjusts periodically after an initial fixed-rate period, typically to a term of 30 years.  The fixed-rate period can last anywhere from one month to ten years, and can adjust at different intervals (every month, every six months, every year) depending on the program.  After the fixed-rate period is over,the ARM adjusts to the total of the margin (a fixed number) and the index (an adjustable number), to arrive at the "fully-indexed" rate.  The index can vary month to month, and the specific index (T-Bill, LIBOR, etc) used will be determined by the loan program that you have selected.  Certain ARM programs allow for an interest-only payment option.  Check with your loan officer for details.


Fixed Rate Mortgage

A fixed-rate mortgage is just that - a fixed interest rate that does not change during the life of your loan.  The most common fixed-rate loans have a term of 15 or 30 years, but also available are 10, 20 and 25 year fixed-rate mortgages as well.


Full Doc Loan

The most prevalent loan type, a fully documented loan, is one where the investor will ask for documentation of income, assests and employment.  Standard requests to verify income are for two years of W-2's, a verification of deposit (VOD) to verify funds in checking/savings/other accounts, and two years employment in the same line of work.  There are cases where the investor's requirements are less stringent, usually because the investor allows for automated underwriting to help streamline the documentation process.  A multitude of fixed-rate and ARM products are available for borrowers who are able to go full doc.


VA LOANS

VA Loan Specialists

This year the VA Home Loan program will receive $6 Billion in funding. This funding creates one of the only options left for a $0 down payment home loan, which is why each month, thousands of families take advantage of their VA Home Loan Benefits.

Since the government subsidizes your home loan, it provides a variety of benefits such as:

  • Eliminating the need for mortgage insurance, saving you money each month.
  • There is no down payment required for a VA Loan, meaning you may be able to afford a larger home.
  • It is easier to qualify for a VA Loan compared to a conventional loan since the credit and income standards are not as strict.


Term: 30 years   Maximum Amount: $417,000

FHA LOANS

Change Your Life with an FHA Home Loan

If you are a first-time home buyer or have bought a home before and have less than perfect credit you have come to the right place. At Mortgage Loan Place our FHA Home Loan Specialists will take you through the loan process step-by-step.

With an FHA Loan you can:

  • Purchase a Home
  • Remodel Your Home
  • Make Home Repairs
  • Make Energy-Efficient Improvements

And because it's an FHA Loan, we will offer you lower, more affordable rates. We can do this because the FHA guarantees the loans, thus insuring the FHA Loan Lenders so they have less risk by taking you on as a borrower. Even if you have less-than-perfect credit or are a first time home buyer a FHA Loan could be the right loan for you.



INDIAN HOME LOAN GUARANTEE PROGRAM

What is the Section 184 Loan Guarantee Program?

The section 184 Indian Home Loan Guarantee Program is a mortgage product specifically for American Indian and Alaska Native families, tribes, Alaska Villages or tribally designated housing entities. Congress established this program in 1992 to facilitate homeownership in Native American communities.

If you are a potential homebuyer, Section 184 is a great product - thanks to the low down payment requirement of 2.25% for loans over $50,000. If your loan amount is under $50,000 your down payment is 1.25%. Also, you don't have to pay a mortgage insurance premium each month. Instead, a one-time, 1% loan guarantee fee can be added to your final loan amount. Our underwriters and Loan Guarantee Specialists are familiar with the unique issues and circumstances that Native Americans face when trying to get a mortgage in Indian Country.

 

 

 


CONSTRUCTION LOANS

Construction loans are story loans. That means that the lender has to know the story behind the planned construction before they're willing to loan you money. Because it's a story loan, it's not going to be standardized like mortgage loans underwritten to Freddie Mac or Fannie Mae guidelines. That said, there are some common features to a construction loan. Construction loans typically require interest-only payments during construction and become due upon completion. Completion for homeowners means that the house has its certificate of occupancy.

Many homeowners use construction-to-permanent financing programs where the construction loan is converted to a mortgage loan after the certificate of occupancy is issued. The advantage is that you only have to have one application and one closing.


INVESTMENT PROPERTY LOANS

You've decided to take advantage of the great deals in real estate and potential to let someone else make the mortgage payment!

A second home for a rental, a multi-home property, a great commercial property – you know your opportunity when you see it!

We can help: whatever your goal, we have people who will help you, because we are associated with hundreds of commercial and private loan and mortgage sources throughout Oregon, Washington and California.


USDA 100% PURCHASE LOANS

Under the terms of the program, an individual or family may
borrow up to 100% of the appraised value of the home, which
eliminates the need for a down payment. Since a common
barrier to owning a home for many low-income people is the
lack of funds to make a down payment, the availability of the
USDA loan guarantee makes the reality of owning a
home available to a much larger percentage of Americans.




Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $100,000 with closing costs of $1,001. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $500,000 with closing costs of $5,001. Your actual APR may be different depending upon these factors.