Adjustable-Rate Mortgages

Need extra borrowing power?
Plan to move or refinance in a few years?

Adjustable-Rate Mortgages:

• Assist borrowers in obtaining a larger loan amount
  This is possible because qualifications are at a lower interest rate.
• Save money in the early years
  Lower initial interest rate than a traditional fixed-rate loan
• Have a variety of adjustment periods
  (See Intermediate ARMS)

Best for people who:

• Need extra borrowing power
• Want to save money in the first few years
• Plan to move or refinance in a few years
• Are purchasing or refinancing at a time when interest rates are comparatively high

Index: Published economic indices such as U.S. Treasury Securities or London Inter-Bank Offered Rate (LIBOR) that are used to direct the adjustment.

Margin: A fixed percentage (usually two to three percent) that is added to the index at each adjustment period

Rate Cap: Typically the maximum amount your rate can increase or decrease per adjustment period (2%) and over the life of the loan (6%). This protects you in case of volatile market swings.

* Due to various federal, state and local requirements, certain products may not be available in all areas. Other restrictions may apply.
** For adjustable-rate transactions, rates are subject to increase over the life of the loan.

Alternative Documentation Options

Require limited documentation or no ratios programs?
Are you a citizen of another country looking to purchase property in the United States?

• Alternate income, debt and credit documentation options: Choose from our Limited Doc or No Ratios programs
• Financing for Foreign Nationals: Loan amounts up to $650,000 available to purchase a primary or second/vacation residence
• Condotel financing: For primary, second/vacation or investment properties with loan amounts as high as $650,000

• Need financing options for unusual property types such as, condotels, log, earth or dome homes
• Are self-employed with good credit but avoid purchasing or refinancing a home due to excessive documentation requirements

Our Alternative Documentation Options provide expanded financing opportunities with a fixed-rate mortgage option in conforming or non-conforming loan amounts. Home mortgage consultants will explore your financing options and suggest a customized loan program to help you buy a home now.

Blended Jumbo

Interested in qualifying for a larger loan?
Thinking about a jumbo loan but want to avoid jumbo interest rates?

• Lower monthly payments
  Lower monthly payments than regular jumbo mortgages and fixed-rate mortgages
• Lower interest rates
  Interest rates are usually lower than regular jumbo mortgages and fixed-rate mortgages
• Flexibility
  Second mortgage can be paid off at a later date or prepaid (lowering monthly payments even more) with no penalty

• Want to lower their interest rate on a jumbo mortgage
• Want to qualify for a larger home

The Blended Jumbo loan offers lower monthly payments and buydown options that can help you qualify for a larger loan. The lender makes one fixed-rate loan in an amount up to the conforming loan limit,* plus an adjustable-rate second mortgage on the home you wish to buy. The resulting "blended" payment is often less than the payment you would make on a similar jumbo mortgage, so you can enjoy enhanced home purchasing power. Also, a Blended Jumbo loan makes it easier for you to manage your long-term costs. You can direct extra principal payments toward the second mortgage without affecting the first mortgage. So you can pay off the second mortgage and lower your monthly payment at your convenience.

* Currently $359,650 or less for a single-family home, except in Hawaii and Alaska, where the limit is $539,475 for a single-family home. These amounts may adjust annually.

Bond Programs

Need assistance with a down payment?
Need help qualifying for the home you desire?

• Discounts: possibly receive a lower rate
• Down payment assistance: funding to help overcome the obstacles faced by low-to-moderate income borrowers
• Easier qualifying terms: flexible credit guidelines may make it easier for you to qualify to buy a home

• First-time homebuyers having trouble saving for the out-of-pocket expenses associated with purchasing a home
• Borrowers who meet qualification requirements (programs vary by location)

We are dedicated to increasing homeownership among the nation's low- and moderate-income.

Builder Best^®

Thinking about new construction but worried about rising interest rates?

• Free 6-month interest rate lock¹
  The interest rate can be locked for up to 360 days. The lock is free if you close your loan with us wtihin six months; after 6 months there is a nominal fee.
• Financing Options
  Choose from a variety of mortgage loan products, including 3/1, 5/1, 7/1 and 10/1 Intermediate ARMs.
• Flexibility
  If the market improves, homebuyers have the option, within 60 days prior to closing, to "switch" to any eligible mortgage product at the current market interest rate².

• Want to protect themselves against rising interest rates while their homes are under construction

Our Builder Best program protects homebuyers against rising interest rates while their new homes are under construction by enabling them to lock their interest rate for up to 360 days. And if the market improves during construction, homebuyers can exercise a one-time float-down option at no additional cost to get the best rate. Or they can make a one-time switch to any eligible mortgage product and get the current rate, at no additional cost³.

¹ At initial lock-in and any additional lock-in periods, the borrower is required to remit an up-front fee to be applied to closing costs or refunded upon loan closing. In the event that the loan does not close with us, the up-front fees are non-refundable.
²Product switch option may only be exercised within 60 days of closing.
³Change of loan product or program, float-down, or re-lock of rate will require underwriting approval. One-time float-down option is available within 60-days of closing to any non-Builder Best program; re-lock is not allowed within 30 days of the original lock. If re-lock period exceeds 50 days, applicable extended lock fees will be assessed.

Closing Cost$aver^® Program

Need extra cash to cover your closing costs?
Like to put more money toward your down payment?

• More money toward your down payment
• Savings: reduce or eliminate out-of-pocket closing costs
• Flexibility: The Closing Cost$aver program is available for use with fixed-rate, ARM and balloon products in conjunction with government, conventional and jumbo loan amounts.

• First-time homebuyers with little savings
• Move-up buyers with little equity
• Borrowers with high debt ratios

Most potential borrowers cite the lack of equity or sufficient down payment funds and cash to close as the major obstacles for purchasing or refinancing a home. The Closing Cost$aver Program removes these barriers by reducing or possibly eliminating costing costs.

Debt Consolidation Refinance Programs

Sudden layoff?
Unexpected medical expenses?
Emergency home repairs?
Other surprise expenses?

Sometimes getting behind on your bills just happens. Any one of the above can put a strain on a budget - and even cause credit problems.

We understand that dealing with life's challenges may lead to falling behind on payments. That's why we offer special debt consolidation refinance programs for customers who may have difficulty qualifying for traditional mortgage loans.

Expanded credit guidelines enable more homeowners to consolidate high-interest debt, have one easier-to-make monthly payment, and get back on track.

*Credit is subject to approval. Restrictions may apply.

FHA Mortgage

Worried about not qualifying for a mortgage loan?
Concerned about not having enough of a down payment for a new home?

• Low down payments
  Minimal cash is needed up front
• Easy qualifying terms
  The FHA Home Loan uses relaxed underwriting criteria to evaluate debt and income. These flexible credit guidelines may enable more applicants to qualify for financing.
• Authorization to get help with costs
  FHA guidelines allow homebuyers to receive some or all of their down payment and loan fees from relatives.

• Homebuyers who have limited savings and/or moderate incomes
• First-time homebuyers who are concerned about not having enough funds for down payment and closing costs on a new home

FHA Mortgages help low-to-moderate-income homebuyers purchase homes with low down payments (approximately 3%) and flexible qualifying guidelines. These loans are insured by the Federal Housing Administration (FHA), which sets loan limits that vary by area. With an FHA mortgage, you can use a gift or unsecured loan for down payment and closing costs. FHA mortgages are available in fixed-rate and adjustable-rate mortgage options. Also, these loans are usually assumable (along with the current interest rate) by the next owner when you sell your home. This is seen as a strong benefit in certain rate environments.

FHA Streamline Refinance

Interested in refinancing your FHA loan with minimal documentation?
Wouldn't you like to reduce the monthly payments on your FHA loan?

• Faster processing
• Lower monthly payments
• Reduced documentation
• Reduced interest costs over mortgage term
• Lower closing costs

• Current FHA mortgage holders who want to lower their monthly payments and reduce overall mortgage costs

The FHA Streamline Refinance means that new and existing customers with current FHA loans may be able to take advantage of lower rates and reduce monthly payments. This can be done quickly and easily due to radically reduced documentation requirements. This loan requires no income or asset verification, no credit report and no appraisal (except in certain restricted markets). The FHA Streamline Refinance loan is available in fixed-rate and adjustable-rate mortgage options.

First- and Second-Mortgage Combination

Want to avoid the added cost of mortgage insurance?
Interested in sidestepping higher jumbo interest rates?

• Cost effective down payment strategy: bypass the added expense of mortgage insurance while making a down payment as low as 5%.
• Lower interest rate: purchase a larger home with a smaller first mortgage, avoiding the higher interest rate of a jumbo loan.
• Build equity faster: the home equity loan has a shorter term allowing you to pay it off quicker.
• Simplicity: one application, one closing, one set of closing costs equals a two-in-one process saving time and reducing fees.

• First-time homebuyers trying to save for a large down payment.
• Move-up buyers with high-yielding investments who would rather use a home equity loan as a down payment instead of liquidating their assets.
• People delaying the purchase of a home because they are expecting to use a bonus, commission check or inheritance funds toward the down payment.

These combinations are the most popular; however, the first mortgage and home equity product can be used with various combinations in conjunction with a wide array of ARM, Fixed-Rate and Balloon loans. Let us assess your needs and help you choose a loan program that answers your individual needs.

Fixed-Rate Mortgage

Do you prefer regular mortgage payments with no surprises?
Plan on staying in your home for a long time?

• Predictable payments
  There are fixed monthly payments for the life of the loan.
• Protection from rising interest rates
  For the life of the loan-- no matter how high market interest rates go up-- your rate remains the same.
• Faster equity growth
  In comparison to other mortgage options such as ARMs and Balloon Mortgages

• Prefer regular payments with no surprises
• Are on limited or fixed incomes
• Plan to stay in their homes a long time
• Are purchasing or refinancing at a time when interest rates are comparatively low

Fixed-rate mortgages (also known as FRMs) offer the same interest rate, monthly principal and interest payment throughout the entire term of the loan. We offer a variety of terms in both government conforming and jumbo loan amounts. The longer the term, the lower the monthly payments and the more cash you'll have for other expenses. With a shorter term, you'll have higher monthly payments and you'll qualify for a smaller loan amount, but you'll save on interest costs over the life of the loan and build your equity faster. The fixed-rate mortgage loan is the "traditional" choice and is still the most popular because it offers stability and predictable monthly payments.

FLEX/FIXED^® Program

Do you need more purchasing power?
Looking to ease into higher monthly payments?

• Low start rates
  FLEX/FIXED is a unique program that "buys down" the start rate of the loan, as low as 3% below the established fixed rate.
• Flexibility
  More than 1,700 buy-down options at costs less than most other lenders. Options can be used with many mortgage products including FHA/VA and most conventional ARM, balloon and fixed-rate loans.
• Peace of mind
  Limits rate adjustments to no more than 1% each year and 3% over the life of the loan. This allows homebuyers to plan ahead and grow into the slight increases in payments over the first few years of the loan.

• First-time homebuyers
• Homebuyers trading up that want to ease into higher monthly payments
• Those who anticipate increases in future income
• Sellers or builders who need a tool to move properties (making it easier for potential buyers to qualify) without reducing prices

With a FLEX/FIXED mortgage, a homebuyer can benefit from the low start rates associated with Adjustable Rate Mortgage (ARM), and the predictable monthly payments of a Fixed-Rate Mortgage (FRM). The borrower using their own funds or seller contributions "buys down" the interest rate of the loan, reducing the initial interest rate as much as three percent below the established fixed rate. This allows first-time homebuyers and borrowers with high debt-to-income ratios, to start at a low, affordable interest rate.

Flexible Credit Solutions

Have you been turned down for a mortgage?
Do you have special financing needs?

We offer:

• Flexible qualifying guidelines. Choose from a variety of mortgage options, including fixed and adjustable-rate (ARM) loans.
• Another chance. Help heal damaged credit by making timely monthly mortgage payments. Check your progress with a free personal home financing analysis anytime.

Best for people who have:

• Their own business (or are self-employed)
• Excessive debt obligations
• No credit history
• Financial hardship
• "Less-than-perfect" credit

Home Asset Management^SM Account

Want to manage your home like the asset it is?
Want ongoing access to your growing home equity?

• Access funds with card or checks as needed after closing
  Get an EquityLine Platinum card or use the ready-to-write convenience checks you automatically receive.
• Work with your growing asset without applying for additional loans
  Increases are regularly reflected in your credit line based on mortgage principal payments and increases in your home value.
• Set guidelines that suit your needs and your comfort level
  You can choose to decline - or limit the amount of - any increase to your line of credit.
• Plan for life events and make informed financial choices
  Detailed quarterly reports track your current equity; annual reports define and illustrate any increase in your home asset position.
• Factor potential savings into your financial plan
  Unlike credit cards or other installment loans, the interest you pay on your home equity line is usually tax-deductible*.
• Convert all or part of your available equity to a fixed-rate loan
  You pick the right time. You decide on the amount. And you pick a pay-off schedule that fits your monthly budget and is in line with your goals.

• Desire the financial control and flexibility that comes with ongoing access to home equity.
• Want a credit line that regularly reflects equity increases, giving them access to their home equity as it grows.
• Prefer to finance major expenses using a tax-smart alternative to installment loans.*

The Home Asset Management Account combines a first mortgage with a home equity line, allowing you to manage your personal finances like never before. Part or all of your down payment - equity, if you're refinancing - is used to establish an available line of credit that changes as you build equity in your home. As you pay your mortgage, and as your home's estimated value appreciates, the equity increases are reflected in your credit line, as long as you've maintained good credit and made timely mortgage payments. You can access your equity line whenever you need it, without the hassle of applying for additional loans. Contact me for details.

*Consult your tax advisor regarding the deductibility of interest.

Home equity loans and home equity lines of credit are available through Wells Fargo Home Equity, a division of Wells Fargo Bank, N.A. Home equity loans and lines of credit are not offered on property located in Texas.

Interest-Only Feature

Rather invest your money in high-yield and tax-deferred savings?
Need extra cash to pay off high-interest, non-tax-deductible consumer debt?

• Reduced monthly payments
  With our Interest-Only feature, your monthly payment consists of interest alone for the first five or seven years. This increases your cash flow — making homeownership more affordable.
• Financial diversity
  Redirect your cash flow to supplement your savings or investment funds, maximize your contributions to 401k or other tax-deferred retirement accounts, or pay off any higher-cost, non-tax-deductible debt. It's your money to use as you see fit.
• Greater tax deductions
  Because payments are interest-only, you may benefit from larger interest deductions during the interest only period.*
• Flexibility
  You are welcome to make principal payments during the "interest only" period, but are not required to do so.

• Are very focused on money management
• Want to reduce their monthly mortgage payment
• Do not intend to be in their homes more than a few years

With our 5/1 and 7/1 Interest-Only Adjustable Rate Mortgages** (ARMs), your monthly payment consists of interest alone, with no principal, for the first five or seven years. Lower payments mean increased cash flow each month. So you can enjoy the benefits of homeownership today, while still funding your plans for tomorrow.

  * Consult your tax advisor regarding the deductibility of interest.
** Fixed rate for the first five or seven years, then becomes a one-year ARM.

Intermediate ARMs

Plan on being in your home 10 years or less?
Need a lower rate to qualify for the house you desire?

• Low introductory rate
  Net substantial savings with attractively priced 3/1, 5/1, 7/1 and 10/1 ARM options.
• Predictable monthly payments
  Intermediate ARM options are offered at a low introductory rate that remains fixed for the first three, five, seven or ten years.
• Low down payment
  Less up-front cash is needed, because our 3/1, 5/1, 7/1 and 10/1 ARM options have down payment requirements as low as 5%.

• Plan to stay in their homes for a limited time.
• Need lower initial payments to buy a home they might not otherwise be able to afford.
• Are confident their future incomes will rise enough to handle potentially higher monthly payments.

Intermediate ARMs offer the low introductory rate of an adjustable rate mortgage combined with the security of a fixed-rate mortgage for a defined number of years. We offer several intermediate ARMs with down payment options as low as 5% and competitive rates that could help borrowers save thousands of dollars over the life of the loan. Also, the intermediate ARM is available in both conforming and non-conforming loan amounts.

* Due to various federal, state and local requirements, certain products may not be available in all areas. Other restrictions may apply.
** For adjustable-rate transactions, rates are subject to increase over the life of the loan.

Jumbo Mortgage

Do you need to borrow more than $359,650?
Interested in leveraging your assets more effectively?

• Larger loan amounts to purchase more expensive homes
• Loan amounts as high as $1 million and down payments as low as 5%

• Primary residences
• Second or vacation homes
• Investment properties

• Want to finance larger and/or more expensive properties and can handle larger monthly payments
• Investment-minded buyers who want to leverage their assets more effectively

Currently a jumbo mortgage is a purchase or refinance loan that exceeds $359,650 for a single-family home.* It is also called a non-conforming loan because it does not conform to the loan limits set by Fannie Mae (The Federal National Mortgage Association or FNMA) or Freddie Mac (The Federal Home Loan Mortgage Corp. or FHMLC). Jumbo financing options include fixed-rate and adjustable-rate mortgages, with a range of terms to accommodate immediate and long-range financial plans.

Lender Paid Mortgage Insurance (LPMI)

Interested in avoiding mortgage insurance, even if your down payment is less than 20%?
Curious about how you can reduce your monthly payments?

• Lower monthly payment
  It's cheaper each month than traditional mortgage insurance
• Larger tax deduction*
  Gives borrowers a bigger tax-deduction* because of the slightly higher interest rate (more savings)

• Have a down payment or equity of less than 15%
• Have a 20-, 25- or 30-year term mortgage
• Will most likely move or refinance in 10 years or less
• Want to reduce their monthly payments
• Want the largest tax deduction possible*

Mortgage insurance is necessary if you put down less than 20% on a home. With Lender Paid Mortgage Insurance (LPMI), the cost of the mortgage insurance is included in the interest rate. Although the interest rate is slightly higher with LPMI, this option usually results in a lower monthly payment and a larger tax deduction.* This adds up to considerable savings when compared to other mortgage insurance options.

* Only a tax professional can offer advice on the extent to which interest on a loan with LPMI is deductible.

Jumbo Relationship ARM^*

The Jumbo Relationship ARM offers:

• Special discounts for new or current Wells Fargo bank customers
  Obtain substantial savings and receive a larger loan amount when qualifying for your mortgage.
• Predictable monthly payments
  The low introductory rate remains fixed for the first five years.
• A low down payment
  Requirements as low as 5% mean less up-front cash needed.

• New or current Wells Fargo bank customers looking for a jumbo loan amount to purchase a bigger home.

We believe that Wells Fargo bank customers should be rewarded. The 5/1 ARM products offer a special discounted rate exclusively for new or existing customers requiring larger loan amounts. In fact, the stronger your banking relationship with Wells Fargo, the deeper your potential discounts will be.

With our 5/1 Intermediate ARM, you may want to consider our Interest-Only feature - your monthly payment consists of interest alone, with no principal, for the first five years. Lower payments mean increased cash flow each month. What better way to start investing your extra cash than with a Wells Fargo savings or investment account - while lowering your interest rate at the same time?

* Fixed-rate for the first five years, then the rate may vary annually. For adjustable-rate transactions, rates are subject to increase over the life the loan.

** Due to various federal, state and local requirements, certain products may not be available in all areas. Other restrictions may apply

The Relocation Mortgage Program^®

A comprehensive loan program designed for corporate transferees.

About The Relocation Mortgage Program

Committed to making home financing convenient and easy, our company has established relationships with corporations nationally and has helped thousands of relocating employees like you. Our relocation mortgage package is designed with features to specifically meet your unique needs as a transferee.

Ask me about The Relocation Mortgage Program today.

Reverse Mortgages

Are you at least 62 years old?
Interested in putting your home to work for you?

Reverse Mortgages offer:

• Access to Extra Income
  Receive monthly payments instead of making them. Refinance your home without repaying the debt for as long as you live there.
• Flexible Qualifying Guidelines
  There are no income, employment or credit qualifying restrictions.*
• Payment Disbursement Options
  You can secure your loan proceeds in a lump sum to cover large expenses, in monthly installments to supplement your income, or as a line of credit to draw on as you need it. You can even choose an immediate cash advance in addition to monthly allotments. Payment can be adjusted as circumstances change.
• No Pre-Payment Penalty
  You can repay the loan, at any time, without penalty.
• Peace of Mind
  The amount you owe can never exceed your property value, so your Reverse Mortgage can never cause you to lose your home.

Best for:

• People aged 62 years or older who want to borrow against the equity they've built in their homes.
• Seniors interested in supplementing their incomes.

Reverse Mortgages are specifically for homeowners aged 62 and up who have a low mortgage debt or own their homes outright. The maximum loan amount is based on age, where borrower lives and the value of the home. Reverse Mortgages are a type of home equity loan that allows borrowers to convert some of the equity in their homes into cash while retaining homeownership. The non-taxable Reverse Mortgage funds, plus any accrued interest, are due when borrower sells or no longer uses the home as primary residence.

*Reverse Mortgage borrowers are required to obtain an eligibility certificate by receiving free counseling sessions with a HUD-approved agency. Family members are also strongly encouraged to participate in these informative sessions.