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Leo Mortgage, Incorporated offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:

Conventional - FHA - and VA mortgages

10% Down-payment with no PMI!

97% Financing - put only 3% down and reduce the up-front cash needed.

VA Financing - zero down payment and finance the Veterans Funding Fee.

Home Equity loans

Lines of Credit

JUMBO loans (>$417,000)

 
Conventional 30 Year Fixed Rate Mortgage
FHA Mortgages
Veteran's Administration (VA) Loan
PHFA First-time buyer Loans
JUMBO Loans
10% Down Payment with NO PMI!

Conventional 30 Year Fixed Rate Mortgage

This is the most common loan type.  A 30 year fully-amortizing fixed rate loan gives you the stability of knowing what your payment will be each month.  A conforming loan is one that is up to the maximum loan amount established by FNMA and FHLMC for the area in which the property is located. In Pennsylvania, that limit is approximately $417,000 (it goes up each year) A loan amount over this figure is a 'JUMBO' mortgage.  As part of the President's Economic Stimulus Package - higher loan amounts are available in certain high-cost areas.  To see if a fixed rate loan is your best option - contact us today at info@leomortgage.com.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
6%6.435%0%
 
Rates are subject to change - don't delay - call today! Leo Mortgage (215) 542-9900

FHA Mortgages

An FHA loan is one which carries the insurance of the department of Housing and Urban Development (HUD).  Loans thru the Federal Housing Administration (FHA) require lower down-payment and more flexible underwriting standards.  The FHA does not LEND money - they INSURE it.  Because it carries the FHA insurance, lenders are comfortable lending on loans with lower down-payment.  Currently - 3.5% is the minimum down-payment for an FHA loan.  To learn if FHA is right for you - contact us today at (215) 542-9900 or email at info@leomortgage.com

Term: 30 years   Maximum Amount: $420,000

Veteran's Administration (VA) Loan

With a loan thru the Veterans Administration (VA) eligible borrowers can finance up to 100% of the price of the home.  In addition the VA funding fee is financed into the loan allowing the Veteran to keep the total money needed to a minimum.  If you are a member of the Armed Services, you have earned this valuable benefit.  Call Leo Mortgage for all the details.

Term: 30 years   Maximum Amount: $417,000

PHFA First-time buyer Loans

Actually, you do not need to be a 1st-time buyer in certain 'target' counties.  For the right buyer this is a tremedous tool.  It allows the borrower to put as little as 3% down-payment (zero down - if you are a Veteran) and get a below-market interest rate through the Pennsylvania Housing Finance Agency.  We have worked with PHFA for over 20 years and have extensive know-how on the ins and outs of this loan.  In fact - you MAY qualify for closing costs assistance thru PHFA or any of the numerous Grant providers we work with.  Certain income and sale price limits apply - call for details.

Term: 30 years   Maximum Amount: $417,000

JUMBO Loans

A Jumbo loan is one in which the loan amount exceeds the loan limit set by Fannie Mae and Freddie Mac for the area in which the home is located.  In PA a JUMBO loan is >$417,000.  Becasue they are not sold into the secondary market (FNMA & FHLMC) Jumbo loans are usually at a higher rate than conforming loans.  Leo Mortgage offers a variety of Jumbo loans including the 'piggy-back' option of taking two loans (A conforming 1st with a fixed rate second loan) that may enable you to avoid the JUMBO pricing.  For all the details - please contact one of our representatives today at (215) 542-9900 or info@leomortgage.com

Term: 30 years   Maximum Amount: $1,000,000

10% Down Payment with NO PMI!
By using Leo's 80/10 program, you can put only 10% down and still NOT pay PMI! Call Leo Mortgage for details on this creative way to replace the dreaded PMI with a tax deductable payment that builds equity in your home each payment!

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
5.5%5.922%0%
 
With the 80/10 - you have a choice of products for the second loan. You can choose a fixed rate, balloon or a home quity line of credit. Call for all the details (215) 542-9900



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 $16,680. 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 $1,000,000 with closing costs of $30,000. Your actual APR may be different depending upon these factors.