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Copyright © 2000 Direct Mortgage Corp.


Illinois Residential Mortgage Licensee




Direct Mortgage Corp.












Direct Mortgage offers a diverse array of loan programs to
meet your needs. Below are just a few of the many loan programs we offer:
 


























100% Financing Loans Ideal for first-time buyers. Direct's no
down-payment mortgages can help reduce or eliminate nearly every cost associated with
obtaining a home loan.
No Money Down Loans Allows borrowers with no down payment to
purchase a home through a FHA program call "Nehemiah".
Imperfect Credit Loans Allows borrowers with less-than-perfect
credit to qualify for competitive interest rates to purchase or refinance.
No Income Verification Loans Ideal for the self-employed. Loans where borrowers agree to put down 10 to 20% equity in exchange for reduced
documentation requirements.
VA and FHA Government insured/guaranteed, fixed-rate and adjustable loans.
Investor Loans Non-owner occupied loans for the real estate investor with as little as 10% down.




 



 
30 Year Fixed Rate
15 Year Fixed Rate
7 Year Balloon

Rates last updated on Wednesday, September 04, 2002

30 Year Fixed Rate
Fixed rate loan

Term: 30 years   Maximum Amount: $30,070,000
RatesPointsAPR
5.875%1%6.011%
6%0.5%6.09%
6.125%0%6.168%

15 Year Fixed Rate
Fixed Rate Loan

Term: 15 years   Maximum Amount: $300,700
RatesPointsAPR
5.375%1%5.601%
5.5%0.5%5.648%
5.625%0%5.696%

7 Year Balloon
30 Year Amortization, balance due at the end of 7 years.

Term: 7 years   Maximum Amount: $300,700
RatesPointsAPR
5.5%0%5.583%



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $300,700 with closing costs of $1,376. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $350,000 with closing costs of $1,376. Your actual APR may be different depending upon these factors.