Getting you the right loan
We’ve got options for every type of buyer
Professional’s Finance Program
DLJ’s new Professional’s Finance Program (PFP) is the first mortgage loan program specifically designed to bring mortgage loans with prime or near prime interest rates to self-employed professionals. This program recognizes that strong credit, borrower equity, and business cashflow are more important than employment status. Our approach to loan qualification is tailored for self-employed professionals.
- Are self-employed
- Interested in interest rates that reflect their credit-worthiness
- Have had trouble getting a traditional mortgage loan
Fixed Rate Loan
Fixed-Rate Loan The most common and most traditional mortgage. Your interest rate and monthly payment stay the same for 10, 15, 20, 25 or 30 years – or we can tailor a term to your needs. Typically, rates are slightly higher based on the long-term security of a fixed rate and term.
- Are going to stay in one home for many years
- Like a consistent predictable payment
Adjustable Rate Loan
Offering lower initial payments than a fixed-rate loan, adjustable rate mortgages have an interest rate that changes yearly after the initial fixed-rate period. They also have shorter terms (3, 5, 7 or 10 years) and, at the end of that term, their payment can adjust downward or upward.
- Need lower initial payments
- Move every few years
- Know they’ll be stepping up to a larger home in the future
These government-backed loans have a minimum of 3.5% down payment, and 100% of the down payment can be gifted to you by a relative or family member.
- Are first-time home buyers
- Move every few years
- Have less than perfect credit
Home Equity or Home Improvement Loans
These loans allow you to use some of the equity from your home to remodel, add on, make upgrades, or consolidate higher-interest debt. In many cases, you can also take out cash for other expenses.
- Want/need to make improvements to their home
- Have been paying their mortgage for a few years and have paid back some of the principal
These are larger loans that exceed the conforming loan amount (which varies by county). In Orange County, California (where DLJ Financial is headquartered), for instance, this amount is $625,500 as of March 2014.
- Need a large loan
These federally insured loans give veterans access to special mortgage rates and programs, including low
(or no) down payment.
- Are current or former active-duty military
This type of financing is typically for consumers with damaged credit or unusual, short-term circumstances.
- Are in a cash crunch
- Have strong equity positions and their equityis a good use of debt consolidation or obtaining cash for personal or business purposes