"Slow Credit Programs" have been created for borrowers that have some type of derogatory information placed on their credit report. They are designed to assist the borrower in obtaining a mortgage while they clear up their credit standing. Mortgage rates are tiered depending on credit history, debt ratio, and loan to value. The rates indicated above are for a A- to B graded borrower. This may be an individual with a high debt ratio and one or two 30 days late on an unsecured credit account. The rates reflect the credit risk that a borrower represents to the lender, and therefore a borrower with four accounts that reflect 30 and 60 days late should expect to be graded lower than the example above, and therefore will have to pay a higher rate. Furthermore any type of late on a mortgage account will be considered more seriously than one on a credit card.

Construction to Permanent available. Go to the Loan Officer Chat Room for more details. These rates reflect Owner Occupied Single Family Homes. There is a .50% increase in the rate for investment properties.