Specialty Loans
Borrowers with 7 to 10 financed properties will appreciate this fully amortizing, conventional conforming first-lien mortgage loan program, which is available in fixed or adjustable rates.
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Financing distinctive properties ranging from $453,101 to $3M? Then you’ll want to look at this adjustable-rate mortgage (ARM) product. ARM periods are available with an initial fixed rate of 5, 7, or 10 years. Desert Community Bank offers jumbo products that require a minimum down payment of 10%.1
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Professionals with strong earning potential who have finished school recently or are early in their career will appreciate this ARM product. That’s because it was designed with terms and conditions with them in mind. Low down payments and no required mortgage insurance, it’s ideal for qualified individuals who have earned this opportunity to purchase or refinance. Qualified applicants may have some student debt excluded from payment ratios.
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Homes above the conventional loan size and up to $3M can be purchased or refinanced with this fixed-rate mortgage product. Fixed-rate jumbo products from Desert Community Bank require a minimum of 15% down payment for purchase transactions.1
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Avoid mortgage insurance–even if your down payments is just 10%—by restructuring a single loan into a first/second mortgage combo1 with this product. It also makes a viable alternative to a jumbo loan.
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Borrowers looking to purchase or refinance properties in areas designated as “high cost” can turn to this mortgage product, which is available in either fixed or adjustable-rate formats. Loan amounts for our High Balance product exceed the typical conventional loan size limit of $453,100.
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All borrowers are subject to qualification, underwriting approval, lender terms and conditions. Terms, conditions, and rates are subject to change without notice. Some restrictions may apply.
1Generally, the smaller your down payment percentage, the higher your interest rate. A loan-to-value ratio above 80% may result in a need for mortgage insurance. If mortgage insurance is required, the amount of your payment will increase
2Purchase and rate/term refinance. Primary residence only. Desert Community Bank or Flagstar checking or savings account required. Some restrictions may apply. All borrowers are subject to credit approval. Programs subject to change without notice. Underwriting terms and conditions apply. Eligible borrowers include: medical resident (Educational License), medical doctor (MD), doctor of dental sciences (DDS), doctor of dental medicine or surgeon (DMD), doctor of optometry (OD), doctor of ophthalmology (MD), doctor of podiatric medicine (DPM), doctor of osteopathy (DO), doctor of veterinary medicine (DVM), certified public accountant (CPA), attorney, and architect.
3This is a subordinate-lien, closed-end, fixed-rate loan. Loans under this program must be closed concurrently with a Desert Community Bank conventional, agency-eligible first mortgage. This is not a stand-alone second mortgage program.