Services - PRMI

Loan Type	Down Payment	Terms	Credit Score	Mortgage Insurance	Maximum Loan
Fixed Rate Mortgage	5%	15 or 30 years, fixed	620 minimum	No (if under 80% loan-to-value)	Varies by area
FHA Loan	3.5%	10, 15, 20, 25 or 30 years, fixed and adjustable	640 minimum (unless approved by FHA Choice)	Yes	Varies by area
VA Loans	None	15, 20, 25 or 30 years, fixed and adjustable	620 minimum	No	Varies by area
Jumbo Loans	20%	15 or 30 years, fixed and adjustable	700 minimum	No	$2.5 million
Rural Housing (USDA) Loans	None	30 years, fixed	640 minimum	No (Up-Front Guarantee Fee financed into loan)	Varies by area
FHA Choice Loan	3.5%	30 years, fixed	500 minimum	Yes	Varies by area
FHA 203(k) Loan	3.5%	30 years, fixed	640 minimum	Yes	Varies by area
Adjustable Rate Mortgage (ARM)	Varies	3/1, 5/1, 7/1 or 10/1	Varies	Varies	Varies by area
HARP Loan	None	Multiple years, fixed and adjustable	620 minimum	Yes	$417,000
Down Payment Assistance	None	30 year fixed	620	Yes	Varies by area
Portfolio	Varies 10% and up	30 year fixed and adjustable	Varies 580 and up	Varies	$3 million