Loan Information Cards
Principal and interest only. Taxes and insurance not included.
Principal and interest only. Taxes and insurance not included.
Premier Home Start Program
Program Overview
We make your path to homeownership easier with down payment assistance directly from Premier Mortgage Resources.
- • FHA 30-Year Fixed-Rate Mortgage paired with down payment assistance
- • 5% down payment assistance with 10-year amortized term
- • No required borrower contribution
Key Features
- ✓ Available nationwide (except New York)
- ✓ No income limits
- ✓ Minimum 600 FICO score
Premier Home Start Details
Qualification Requirements
- • Purchase only (no refinances)
- • Loan-to-Value (LTV) 90% - 96.5%
- • Non-occupant borrowers allowed (family members only)
Eligible Properties
- • Primary residences (1-2 units)
- • Single-family homes, PUDs, townhomes, condos
- • Attached/detached homes, modular & manufactured homes
For More Information
Contact Emelie Maybrook at 312-772-6850 or emelie.maybrook@prmloans.com
VA Loans for Veterans
Program Overview
Specialized loans for veterans, service members, and eligible surviving spouses, backed by the U.S. Department of Veterans Affairs.
- • No down payment required in most cases
- • No private mortgage insurance (PMI)
- • Competitive interest rates
Key Benefits
- ✓ Lower credit score requirements
- ✓ Easier to qualify with limited credit history
- ✓ No prepayment penalties
VA Loan Details
Eligibility Requirements
- • Certificate of Eligibility (COE) required
- • Meet service requirements (90+ consecutive days during wartime, 181+ days during peacetime, or 6+ years in National Guard)
- • Minimum 580 credit score (lender may have higher requirements)
VA Funding Fee
- • One-time fee of 1.4% to 3.6% of loan amount
- • Can be financed into the loan amount
- • Waived for veterans with service-connected disabilities
For More Information
Contact Emelie Maybrook at 312-772-6850 or emelie.maybrook@prmloans.com
Conventional Mortgage Loans
Program Overview
Traditional mortgage loans not backed by government programs, offering flexible terms and competitive rates.
- • Fixed and adjustable rate options available
- • Loan terms from 10 to 30 years
- • PMI required with less than 20% down payment
Key Features
- ✓ Lower down payment options available (as low as 3%)
- ✓ Can be used for primary, secondary, or investment properties
- ✓ PMI can be removed once 20% equity is reached
Conventional Loan Details
Qualification Requirements
- • Minimum credit score of 620 (higher scores get better rates)
- • Debt-to-income ratio typically below 45%
- • Stable employment and income history
Loan Limits
- • Conforming loans: Up to $766,550 in most areas (2024)
- • High-balance loans: Up to $1,149,825 in high-cost areas
- • Jumbo loans available for amounts above conforming limits
For More Information
Contact Emelie Maybrook at 312-772-6850 or emelie.maybrook@prmloans.com
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