Because Downeast Mortgage is a direct lender, we have the ability to work with you to find a financing solution that fits whatever your unique circumstances may be. With over 100 different Conventional, Government and Private programs available, our Loan Officers will help you find one that is tailored to your specific financing needs. An overview of some of the different categories of mortgages that we offer is provided below, but this is just a sample of the many programs we offer. Check with one of our loan officers at the location nearest you for more complete information.
 Conventional Conforming Mortgages: Conventional fixed rate mortgages are provided by Downeast Mortgage Corporation in 10 to 30 year terms. In addition, a wide variety of conventional adjustable rate mortgages ("ARM's") are available, also, such as 1 year ARM's, 3/1 ARM's, 5/1 ARM's and 7/1 ARM's. Our state-of-the-art Underwriting systems allow streamlined processing for most of our conventional mortgage products. Click here to contact one of our Loan Officers for help with questions on Conventional mortgage products.
Jumbo Mortgages: For borrowers who require financing above the statutory conforming loan limits ($417,001 and higher as of 8/1/06, subject to change) we offer dozens of different Jumbo options, some of which go all the way up to $4,000,000.00. Fixed rate Jumbo's, ARM's and Balloon mortgages are all available options. Click here to contact one of our Loan Officers for help with questions on Jumbo mortgage products.
Government Loans: Downeast Mortgage Corporation is a direct-endorsed lender for the Federal Housing Administration (FHA), Veterans Administration (VA), Rural Housing Service (RHS), Maine State Housing Authority (MSHA) and New Hampshire Housing Finance Authority (NHHFA). This "direct-endorsed" status issued by these institutions allows us to process, underwrite and close these Government insured loans locally at Downeast Mortgage Corporation, greatly expediting the normal time frame involved with some of these popular, low down-payment programs. Click here to contact one of our Loan Officers for help with questions on Government mortgages.
Construction Loans and Rehab Loans: Downeast Mortgage Corporation has been providing construction financing to our customers and builders since 1987. We understand the complexities of the building process and can help you save money by funding your construction in distinct phases. Additionally, our Construction Loans can be linked to many of the different mortgage programs that we provide, allowing you much greater flexibility for your end-loan mortgage than most companies provide. Click here to contact one of our Loan Officers for help with questions on Construction Loans.
Niche Products: At Downeast Mortgage Corporation we have many Loan Officers who specialize in borrowers with unique financing requirements, including No-Doc loans, B/C loans, Sub-Prime loans, Stated-Income loans, No-Ratio loans, No-Asset-Verification loans, 100%+ financing loans and many more. Click here to contact one of our Loan Officers for help with questions on Niche Products.
Pre-Approval Mortgages: With our Fast Trac Pre-Approval process, we can help you obtain a mortgage approval quickly and efficiently before you find a home. Be prepared with a pre-approved mortgage. It can greatly enhance your negotiating power in selecting and closing on your next home. Click here to contact one of our Loan Officers for help with questions on Pre-Approval Mortgages.
Second-Mortgage and Home Equity Line of Credit Products: We offer both fixed-rate second mortgages (CES's) and home equity lines of credit (HELOC's) to assist our customers with their financing needs. Both our CES and HELOC programs offer a variety of different payment and amortization terms, from interest-only payments to loan terms stretching from 5 to 30 years. Both programs can also be utilized as "piggyback" mortgages, which are often utilized by borrowers who have less than a 20% down-payment to borrow the additional funds necessary to avoid the payment of private mortgage insurance (PMI). While most financing institutions will only lend up to 80% or 90% of your home's value, our programs will allow financing up to 100% of your sales price or appraised value. Click here to contact one of our Loan Officers for more details on either CES or HELOC programs.
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