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Other Kerrville &
Hill Country Sites

Conventional Purchase / Refinance Loans (FNMA/FHLMC):

• Up to 95% Loan-To-Value
• 30 & 15 Year Fixed and Adjustable Rate Programs
• No Prepayment Penalties
• Qualification dependent upon credit, income, assets and liabilities
• Condo and Manufactured Doublewide Financing 
• VA Loans
• Qualifying Ratios can exceed 28/36 with good credit and financial strength
• 3% Seller contribution toward closing costs allowed

Second & Vacation Home Loans:

• Up to 90% Loan-To-Value
• 30 & 15 Year Fixed and Adjustable Rate Programs
• No Prepayment Penalties
• Qualification dependent upon credit, income, assets and liabilities
• Qualifying Ratios can exceed 28/36 with good credit and financial strength
• 3% Seller contribution toward closing costs allowed
• Up to 80% Refinance Cash-out available

Investment Property Loans:

• Up to 90% Loan-To-Value
• 30 & 15 Year Fixed and Adjustable Rate Programs
• No Prepayment Penalties
• Qualification dependent upon credit, income, assets & liabilities
• Qualifying Ratios can exceed 28/36 with good credit and financial strength
• 3% Seller contribution toward closing costs allowed
• Up to 80% Refinance Cash-out available

Low-Income / Low-Downpayment Loans:

3% Downpayment:

• Maximum 97% Loan-To-Value-Purchase; Rate/Term Refi
• Qualify by income ($31,520 Kerr; $32,960 Gillespie; $29,920 Bandera; $44,640 Kendall)
• 3% Downpayment (2% can be gift from immediate family; secured or unsecured installment loan)
• 3% seller contribution to closing costs allowed, including prepaids
• Debt/Income Ratio 45% Housing; 45% Total Debt - if housing expense increases <25%
• Debt/Income Ratio 38% Housing; 38% Total Debt - if housing expense increases >25%
• Cannot own other real estate at the time of closing
• Doublewide manufactured homes acceptable/permanently affixed
• Non minimum credit score - no late housing pmt last 12 mo;
  other credit must be acceptable
• Up to $500 off appraisal fee; waive underwriting, document preparation, wire transfer and credit report
• Only one month payment reserves - borrower's own funds

Zero Down

• Maximum 100% Loan-To-Value-Purchase; Rate/Term Refi
• Qualify by income ($31,520 Kerr; $32,960 Gillespie; $29,920 Bandera; $44,640 Kendall)
• Closing costs can be gift secured/unsecured installment loan
• 3% seller contribution to closing costs allowed, including prepaids
• Debt/Income Ratio 33% Housing; 41% Total Debt-Higher ratios available if FICO score >680
• Cannot own other real estate at time of closing 
• No manufactured homes
• Excellent credit - 660 minimum FICO-no late housing pmt last 12 mo;
• Two months payment reserves - borrower's own funds

Non-Conforming Loans:

Stated Income Loans:

• Verify two year work history
• Perfect credit history required
• Maximum 80% Loan-To-Value
• Debt/Income Ratio - 41% Total Debt
• Six Months Payment Reserves

No Ratio Loans:

• Verify two year work history
• Perfect credit history required
• Maximum 80% Loan-To-Value
• Housing and debt ratios not calculated

True No Document Loans:

• No employment questions
• No stated income
• No qualifying ratios
• $60,000 Min loan / $1,000,000 Max loan
• Emphasis on borrower credit His

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Cash-out Equity Loans:

• Up to 80% Loan-To-Value
• Closing Costs Limited to 3% of Loan Amount
• Fixed and Adjustable Rates
• Up to 1 acre, if rural

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Borrowers With Credit Problems:

• Borrowers credit graded to determine rate/terms
• 10-30% downpayment required
• Fixed and Adjustable Rates
• Bankruptcies must be discharged
• Some open collections may be permitted

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