WALLSTREET MORTGAGE AND REALTY
THE GARONE GROUP

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Wallstreet Mortgage and Realty, Inc. offers a variety of loan programs to meet your needs. We are a correspondent arm of the leading lenders and investors in the industry to provide:
 
Fixed Rate Conforming Loans
Fixed Rate ARM
Continuous ARM
HELOC
FHA
Construction Loans
Commercial Loans

Fixed Rate Conforming Loans

This loan is based on a fixed rate for a period of X months. There may or may not be a prepayment penalty

based on the documentation given to us as well as the borrower's credit score. These loans can be stated or

full-doc.

Term: 30 years   Maximum Amount: $417,000
 

Loan Product - Fixed Rate

Amortization Type - Fixed

Loan Type - Conforming or Jumbo

Max. Loan Amount - $417,000 or $20,000,000

Term - 180,360 or 480 months

Due In - 180,360 or 480 months

 


Fixed Rate ARM

This loan is Fixed for X amount of years and then adjusts according to an index with a margin. The index is generally

the libor or CD from the lender of choice. The margin is based on the borrowers credit and documentation type. There

may or may not be a prepayment penalty on these loans. These loans may be stated or full-doc.

Term: 30 years   Maximum Amount: $417,000
 

Loan Product - Fixed Rate or ARM

Amortization Type - Fixed

Loan Type - Conforming or Jumbo

Max. Loan Amount - $417,000 or $20,000,000

Term - 180,360 or 480 months

Due In - 180,360 and 480 months


Continuous ARM

This program is based on the lender's CD and is done on a 12 month rolling average. By doing this the "adjustments"

are made very slowly and the payment changes are much less volitile. These loans come with a prepayment penalty

of 3 years and require a down payment of 20%, but are treated as stated income. 25% is required for the borrower's

assets to be stated as well.

Term: 30 years   Maximum Amount: $1,202,925
 

Loan Product - Continuous ARM

Amortization Type - ARM

Loan Type - Conforming or Jumbo

Max. Loan Amount - $1,202,925

Term -360 months

Due In - 360 months

 


HELOC

HELOC-Home Equity Line of Credit. These loans work much like a credit card does although the

borrower gets a much better interest rate due to the fact that the loan is collateralized by the borrower's home. These

loans are almost always adjustable and tied to the Prime Rate which can be found at in any financial paper.

They usually do not have a prepayment penalty, but many require you to keep it open for a set period of time. Some

require that you draw funds upon closing while others do not and most are paid as interest only for the first 10 years

and then amoritized over the next 20 years.

Term: 30 years   Maximum Amount: $2,000,000
 

Loan Product - HELOC

Amortization Type - ARM

Loan Type - Conforming

Max. Loan Amount - $2,000,000

Term - Varies

Due In - 180,360, 480 months

 


FHA
Term: 30 years   Maximum Amount: $417,000

Construction Loans

Commercial Loans


THERE ARE MANY DIFFERENT VARIATIONS OF EACH TYPE OF LOAN. PLEASE CONTACT ONE OF OUR LOAN

OFFICERS SO THAT THEY MAY ASSIST YOU IN CHOOSING THE PROGRAM THAT BEST FITS YOUR NEEDS.

INTEREST RATES WILL VARY DAILY AND ALSO BY PROGRAM TYPE.


Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 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 $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $424,100 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 $1,202,925 with closing costs of $24,058. Your actual APR may be different depending upon these factors.