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Pilot Bank Residential Lending OutlineREVISION 1: JULY 18, 2014REVISION 2: AUGUST 20, 2014FrontLarge Header ImageHeadline: Residential Lending ServicesText:Your personal relationship with Pilot Bank makes a difference when it comes to your needs in the area of residential lending.? Because underwriting parameters have become extremely conservative and often subjective, many good applications are rejected by major banks.? We have developed a better way of evaluating residential loans.? Our unique Pilot Bank Portfolio Loan Program allows for common sense compensating factors, relationship variables, and underwriting decisions made from a broader perspective on the customer’s situation.?Pilot Bank’s residential lending capabilities are designed to meet all of your home lending needs.? We’re able to compete with any other lender on any residential loan, because we offer a diverse and complete selection of loan programs.? You’ll be able to access a wide array of conventional and government loan options, as well as conforming and non-conforming loan programs.?Inset in Bottom Right Of Text:Pilot Bank Logo(888)964-4179BackText:Conforming LoanFixed and Adjustable Rate MortgagesPurchase and RefinanceInvestor Loans up to 10 propertiesFannie Mae Home Path*Low down paymentNo mortgage insurance requiredExpanded seller contributions for closing costsFixed-rate or adjustable-rate flexibilityAvailable to owner occupants and investorsFannie Mae-owned properties onlyHome Affordable Refinance Program, (HARP)*All refinanced loans must have been sold to Fannie/Freddie prior to June 1, 2009.Unlimited Loan to Value and Combined Loan to ValueCheck to see if your loan is owned by Fannie Mae or Freddie MacGovernment LoanFHA: ?The Federal Housing Administration (FHA) offers a mortgage program that might be right for you. Low down paymentSeller-paid contributionsExpanded qualifying criteriaDown payment accepted from borrower’s own funds or approved gift sourceFHA Streamline RefinancesVA:? The U.S. Department of Veterans Affairs (VA) offers a mortgage program to veterans and active duty personnel.Purchase, rate/term refinance, and cash-out refinance optionsVARRL (Interest Rate Reduction Program)No down payment required (Down payment may be required for loan amounts over $417,000 based on VA county loan limit.)Seller-assistance optionsLow minimum credit score requirementBorrowers qualify at note rateUSDA / Rural Housing: ?The GRH Loan Program has financing backed by the U.S. government through USDA Rural Development (RD). It offers loan terms to give low-income borrowers the ability to purchase homes in rural areas.Purchase and refinance optionsFixed-rate and fixed-termMaximum base loan amount up to 100% of the appraised value2.0% Guarantee Fee can be financed above appraised value (up to 102.04%)No reserves requiredNo maximum CLTV for secondary financing provided by a nonprofit or religiousorganization or federal, state, or local government agencyClosing costs and prepaid expenses may be financed on some transactionsLow minimum credit score requirement and flexible credit termsNo limitation on interested party contributionsNontraditional credit may substitute for lack of traditional credit historyJumbo & Super Jumbo80% LTV with a maximum loan amount of $1,000,000 with a 720?score or higher75% LTV with a maximum loan amount of $1,500,000 with a 720?score or higher70% LTV with a maximum loan amount of $2,500,000 with a 720?score or higher40% LTV with a maximum loan amount of $3,000,000 with a 720?score or higherForeign NationalPurchase onlyMax Loan to Value is 65%, owner occupied and second home onlyPilot Bank Portfolio LoanPurchase & RefinanceNon-warrantable CondoConstruction onlyConstruction to Perm loans80% LTV? up to $1,000,000(Added)**Disclaimer** Programs available only to qualified borrowers. Programs subject to change without notice. All borrowers subject to underwriting and qualification. Some restrictions may apply.FooterFinancial Center LocationsText:Lakeland439 South Florida AvenueLakeland, Florida 33801(863) 513-1200New Tampa17635 Bruce B Downs BoulevardTampa, Florida 33647(813) 349-4560South Tampa3415 West Bay to Bay Boulevard, Suite DTampa, Florida 33629(813) 349-4530Temple Terrace5140 East Fowler AvenueTampa, Florida 33617(813) 349-4530Upper Tampa Bay12471 West Linebaugh AvenueTampa, Florida 33626(813) 496-2600(888) 964-4179(813) 349-4559 (Please advise if a different number is needed.)Social Media LogosFacebook ? Google+ ? Linkedin ? Pinterest ? Twitter ? YoutubeFDIC Logo?2014 Pilot Bank & Pilot Bancshares, Inc. Member FDIC. Equal Housing Lender. Equal Opportunity Logo ................
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