Pinnacle Financial Services

logo.jpg

Untitled Document

Together you and a Pinnacle Mortgage Consultant will find the program that gives you the greatest immediate and long-term financial rewards.

Below are just a few of the program options available to our customers:

Program	Attributes	Benefits
Fixed	Principal and interest payments stay the same for entire term	Stability of a constant rate and payment throughout desired term
Adjustable	Lower initial rates and payments which can adjust over a period of time	Has a lower initial rate; great for investments and those who will not remain in their home for an extended period
FHA	Little-money-down government program with attractive rates for first-time home buyers and those with less than perfect credit	Makes owning affordable by offering down payment assistance to those with perfect or less than perfect credit
VA	Little-money-down government program for past/current US military personnel	Provides US military personnel who have good/bad credit easy access to ownership without requiring PMI
Construction	One-time closing for those building their custom dream home	Pinnacle’s convenient program converts a construction to a permanent loan upon completion saving you the cost of multiple closings
Jumbo/Super Jumbo	Either adjustable or fixed rate programs for mortgages over $417,000	Contact Pinnacle for attractive rates and programs for loan amounts exceeding $420,000
Pay Options	Choose your payment each month from a 1% minimum payment, interest only, or conventional amortization	Provides flexibility to those with seasonal, commission or otherwise fluctuating incomes
HELOC Home Equity Line of Credit	Loan in which you only pay what you use; as this variable rate loan is paid down, you have access to more funds	You can use the cash to save, vacation, invest, or remodel – whatever you want!
2nd Mortgage Home equity loan	A fixed term loan that can stand alone or be used in conjunction with a refinance	This program converts your home’s equity into in-hand cash which you can use for whatever the desired purpose
Home Ownership Accelerator Learn More	Pay your home loan off in half the time. Simply deposit paycheck into loan reducing principal and saving 5-6% in interest costs. Money stays in account until you need it.	Pay off mortgage early and save thousands in interest costs without changing spending habits.

Check Our Affordability Calculator

As the lender, we will ask for documentation to prove your assets and other information. Whichever of these three loan types you choose will determine how much proof is required:

Doc Requirements	Full Doc	Stated	No Doc
Appraisal (unless waived)	X	X	X
Credit Report	X	X	X
Verification of Employment	X	X	---
W-2/pay stubs	X	---	---
Strong credit	---	---	---
Verification of Deposit	X	varies	---
Verification of Assets (bank statements, stock and bond accounts)	X	varies	---

Print Doc Requirements

– Full Doc –

This program requires what its name implies - full documentation. This is the most common documentation type.

• Fixed / adjustable

• Residential / Commercial / Investment

• Can offer lower rates than the alternatives

– Stated Doc –

If verifying such information as your income and assets is difficult, you can go stated.

• Requires no income /asset documentation

• Can be quicker than a full-doc loan

• Can be used by W-2 or self-
employed borrowers

–No Doc–

Requiring minimal documentation, No Doc takes Stated to the next level.

• Very quick transaction

• Is great for the self-employed
or commission-based borrower

Untitled Document