This is a loan ideal for those who have strong credit and wants a quick loan.  Also a suitable loan for self-employed, retired and asset-based incomes.

This is a loan program designed for borrowers with less than perfect credit.  Weak credit doesn't have to be forever.  We'll help you get things straightened out and look better to the banks.  Loans include low down payment fixed and Adjusted Rate Mortgages.  (ARMs). 

Jumbo loans without the jumbo rate!  Anything over $359,650.00 - $650,000.00 is considred a jumbo mortgage.  By breaking your mortgage into two parts, with a first and secnd mortgage, we can offer great lower rates through conforming products.  We can also offer incredible jumbo low-interest rates that will keep payments down!

First-time homebuyer?  ARMs provide lower initial rates, allowing buyers to purchase more house for their rate.  Keep your payments down through lower rates affiliated with ARMs.  Also interest-only payments are avaiable.  Keep in mind that these loans aren't for everyone, and here at Monaghan Mortgage, it's our job to figure out what is best for you. 

Low down payments - the best way to avoid private mortgage insurance (PMI).  Anything less than 20% down requires insurance that will insure the payback of a mortgage loan.  To avoid this, we offer combination loans such as 80-10-10 (80% loan/10% second loan/10% down) or an 80-15-5.  Even 80-20s are possible.  These loans allow you to put a minimum amount of money down, attain affordable rates and avoid that pesky PMI.  It's also the way to avoid the higher rates with a jumbo loan. 

Buyers use the equity in their current home as down payment on a new home.

Fixed loans.  Available with 30-year fixed rates of 3/1, 5/1, and 7/1 adjustable rates.  0% down payment option, reduced income documentation programs, condos and investment properties, and jumbo loans. 

An adjustable rate that can be converted to a fixed rate when and if the time is right.  Save money and secure peace of mind.

Lock into today's rate for tomorrow's loan.   Lock up to 180 days.  (7/23) Seven (7) years fixed rate changing in year eight (8) and remaining fixed through the next 23 years.  The comfortable rate of an ARM and the security of a fixed mortgage! 

For qualified borrowers, you may even be able to finance your clsoing costs.  High LTV loans for solid credit histories. 

Interest -only ARM (Adjustable Rate Mortgage) and Fixed Loans.  Available with 30-year fixed rates or 3/1, 5/1, and 7/1 Adjustable Rates, 0% Down Payment Option, Reduced Income Documentation Programs, Condos, & Investment Properties, and Jumbo Loans. 

Lo Doc, No Doc, No Hassle Loans.  Get the credit you've earned. 

The first step to building a dream home. 

 This program is targeted to individuals who have not owned a home within the past three years. MSHA or Maine State housing Authority is one source we get our funding from. Homepossible is another program that help many people get into their new homesand is not as sensitive to income limits. It minimizes the amount of cash needed for a down payment and also helps, teachers, medical workers, police and fire responders to get affordable terms for their loan.