The following is a partial list of programs offered by Emerald Financial, LTD with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at
Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary.
This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/5.
Offers 30 and 15 year fixed rate mortgage and competitive ARM products.
Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.
Second Mortgage Loans
Subordinate to the first mortgage, these loans offer the borrower the ability to get money for home improvement, debt consolidation, or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.
Used to finance 1-4 family properties that will be for investment with as little as a 20% down payment.
Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little as 3.5% down payment . Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.
Similar to FHA, but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 680.
Backed by the Veterans Administration and the federal government, it is similar to FHA except that you have to be a qualified Veteran or military person. No down payment is required.