East West Mortgage
East West Mortgage is New England’s most prominent mortgage company. They lend in Massachusetts, New Hampshire, Rhode Island, Connecticut, Maine, and Florida. Eas West specializes in residential mortgages.
You can apply for East West mortgages either via telephone or internet. Either way, there is no application fee. Many loans close in as little as two weeks.
East West Mortgage Loan Options
Their Fixed Rate Mortgage comes in thirty, twenty-five, twenty, fifteen or ten year terms. This is the most basic, and most popular mortgage. It can require as little as five percent down. There are also no down payment options for this loan for those who qualify. You may even be able to wrap your closing costs into your loan. There are also reduced or no documentation options for those who are self-employed, or find it difficult to document their income.
East West Mortgage also offers Adjustable Rate options. They offer a standard Adjustable Rate Mortgage that has a low initial rate. The rate then adjusts annually or bi-annually, depending on the predetermined agreement. This loan has annual and lifetime caps, and can require as little as five percent down.
East West Mortgage Jumbo Loans
If your dream house happens to be mansion sized (or priced) you may find East West’ Jumbo Loans helpful. Jumbo Loans are for homes that exceed the conventional limits set by Fannie Mae and Freddie Mac. Their maximum is $2 million. They are available with reduced documentation, stated income, and no income. You can get a jumbo loan for second homes, investment properties, and condominiums.
East West also offers Home Equity Line of Credits and Fixed Rate Second Mortgages. This option can be added to the purchase proceeds of your first mortgage to keep it at an 80% loan to property value. You will not have to pay mortgage insurance with this loan.
Even if you have less than perfect credit, consider applying for a loan with East West. They have plenty of options available for you, and one is bound to suit your needs.
Like all other mortgage businesses in the United States, East West is required to comply with the Fair Housing Act of 1968. They are not allowed to discriminate against borrowers based on religion, national origin, race, color, age, sex, familial status, or disability.
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