The following is a partial list of programs offered by The Washington Mortgage Group with a brief description of the key elements.

• CONVENTIONAL:  Programs available for the borrower who needs 95% financing.  97% loans are available under specific limits.
   
• GOVERNMENT PROGRAMS (FHA/VA):  Numerous loans are available under these programs.  Intended for the low/moderate income and veteran borrowers.  100% financing or minimal down payment is available.  Income and loan amount limits do apply.
   
• 90% RATE OR TERM RE-FINANCING:  For the customer wanting to obtain a lower interest rate.  Loans are based on a maximum of 90 % of appraised value.
   
• CONSTRUCTION/PERM:  Offers a one time closing for those who are building their homes themselves.  During construction the loan is at a floating rate, which is converted to a fixed or adjustable rate after completion.
   
• 100% RECD/FARM HOME:  This program provides 100% financing for homebuyers who have not owned a house in the past three years.  This program is insured by the Federal Government (similar to FHA and VA), and is administered by the U.S. Department of Agriculture (USDA).  This program does have limitations due to geographical location, as it was designed to promote rural housing.  The loan amount can be for 100% of the appraised value.  Income limits do apply.
   
• SECOND HOME:  A program for the homebuyer wishing to purchase a vacation home.  This purchase can be financed up to 90% depending on the loan amount.
   
• INVESTOR/RENTAL PROPERTY:  Buyers who are looking to generate rental income by purchasing these types of properties.  Multiple property ownership is allowed under certain programs.  Financing up to 90% is available.
   
• NO INCOME VERIFICATION:  This offers the self employed borrower or special borrower who wish not to provide tax returns, P&L's, or pay stubs to finance 80% on a refinance or 90% on a purchase.
   
• BALLOON/ARM'S:  These programs are intended for the homebuyer who feels they will only occupy the property for a short period of time.
   
• NON-CONFORMING:  For customers with bruised credit or debt ratios up to 50%.  Loans with LTV's of 90% and over $500,000 are available.