SPECIAL PROGRAMS

Community Home Buyers
FHLMC Expanded Guidelines for
Katrina 8/28/05 Federally Designated Disaster Areas

*Louisiana Housing Finance Agency Lenders
*Qualified borrowers may purchase or repair
*Loan must close by 1/1/2008
*140% of area's medium income
*Purchase price 100% of the area average area
price
*Estimated at 1% below market rate


Second Mortgage- Interest Only Program
We offer seconds at time of close for purchase transactions, no mortgage insurance
required first mortgage 80%
0% down 80/20/0
5% down 80/15/5
10% down - 80/10/10
second mortgage terms: interest only, monthly,
rate based on prime + margin (margin contingent on
FICO score, better score, lower margins)
call for more details regarding this program, 
10 years interest only......

Additional feature for borrower's ...
Interest only line of credit, five year window to draw funds,
can be used for present or future
renovation, second mortgage available up to 100% value of home, contingent upon
borrower's FICO score

TERMITE CERTIFICATES ARE NOT REQUIRED ON CONVENTIONAL LOANS,  APPRAISALS "AS IS" 

RATES SUBJECT TO CHANGE AT ANYTIME. 
 

 

"Sheila Langeman helped us with the financing for our new home and followed through from start to finish during the year. She took the time to explain the process and answer questions we had regarding appraisals and closing costs."
Chef John and Laulie Folse, Donaldsville, La.

"Sheila Langeman, the owner of Avenue Mortgage, helped me buy my home in the French Quarter and I called her when it was time to refinance. She advised me of the different options and explained the costs and payback periods. I highly recommend her."
Dr. William Sholes, Chief of Surgery, New Orleans, La.

"When we were buying a second home in New Orleans, La, Avenue Mortgage made everything easy. The application was over the phone and the loan application was federal expressed to our home. You would never know that they were not in the same city. We even closed a few days before our purchase contract deadline."
Ray and Mindy Riso, Baton Rouge, La.

"Sheila Langeman, Avenue Mortgage, made my move from San Francisco to New Orleans easy. She explained that there were no additional costs and that she would match my situation to a lender that would offer me the best rate and program. The independent mortgage broker can offer better services than a big bank and their rates were better."
Patrick Graham, By water purchaser, formerly San Francisco, Ca.

 


Avenue Mortgage || 322 Lafayette Street, New Orleans, LA 70130 || 504-525-4663

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