Menu of Loans by Statewide Bancorp

Menu of Loan Products
Down Payment Assistance Programs
Fixed Rate Loans

Loan Program	Why select this loan type?	Loan Feature(s)
Basic 40-year Fixed	Plan to keep the home for more than 5 years or To afford a higher-value home	Lower monthly payments than a 30-year loan Monthly payments that will never increase Locks in interest rates
Basic 30-year Fixed	A belief that interest rates will rise or Plan to keep the home for more than 5 years	Monthly payments that will never increase Locks in interest rates
Basic 20-year Fixed	To build equity quickly and pay off the loan faster or Plan to keep the home for more than 5 years	Monthly payments that will never increase Lower interest payments over the life of the loan Locks in interest rates
Basic 15-year Fixed	To build equity quickly and pay off the loan faster or Plan to keep the home for more than 5 years	Monthly payments that will never increase Lower interest payments over the life of the loan Typically, the lowest rates available on a fixed loan
FHA Loan	Cannot afford a large down payment or have little equity available or Less than perfect credit	Insured by the Federal Government Down payment as low as 3% No minimum credit score or area income limits
Stated Income Loan	Self-employed and will have difficulty documenting a large portion of income	No tax returns or W-2s required No income verification required
Cash-Out Refinance	Cash out some equity in current home, but prefer not to have a second mortgage payment	Pays off current mortgage in one lump sum One loan, one payment Usually offers lower interest rates than credit card debts

Adjustable Rate Loans

Fixed Period ARMs	Low payments or wish to own more home or Plan to sell or refinance before the adjustable period begins	Lower fixed rate (when compared to similar loans) for 1, 3, 5, 7 or 10 year terms (your choice) Stability mixed with flexibility
Interest-Only Loans	Minimal monthly payments or Afford the most home possible (by changing the debt-to-income ratio)	Lower monthly payments Pay as much-or as little- principal as you prefer each month
Commercial Mortgages	Own a business or other income-producing property that doesn't qualify as residential	Possible tax benefits for your business (consult an expert)

Special Loans

Interest-Only Loans	Minimize monthly payments and save cash or Afford the most home possible (by changing the debt-to- income ratio)	Lower monthly payments Pay as much-or little-principal as you prefer each month Greater flexibility in your monthly cash flow
FHA Loan	Cannot afford a large down payment or have little equity available or Less than perfect credit	Insured by the Federal Government Down payment as low as 3% No minimum credit score or area income limits
"No MI" Home Loan	Have less than 20% down payment and want to avoid mortgage insurance (MI) or Eliminate existing mortgage insurance payments	No mortgage insurance (MI) Lower down payment May lower monthly payments Purchase or refinance

Home Equity Loans

								
								Cash-Out 
								Refinance
								
								Cash 
								out some equity in current home, but prefer not 
								to have a second mortgage payment 
								
								Pays off 
									current mortgage in one lump sum 
									
One loan, 
									one payment 
Usually 
									offers lower interest rates than credit card 
									debts

Or call 1-800-737-0104

Basic 40-year Fixed

Basic 30-year Fixed

Basic 20-year Fixed

Basic 15-year Fixed

FHA Loan

Stated Income Loan

Cash-Out Refinance

Fixed Period ARMs

Interest-Only Loans

Commercial Mortgages

Interest-Only Loans

FHA Loan

"No MI" Home Loan

Cash-Out Refinance