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Portfolio Loan Programs

Whether you’re looking for a first home or dream home, Busey can help make it a reality. We’ll provide the answers and support you need to make the dream of homeownership come true. With these niche loan programs, our award-winning mortgage team will find the financing to fit your needs.

Physician Loan
This program is designed for the unique needs of MDs & DOs. Low start rates and no Mortgage Insurance (MI).  5/1 and 7/1 ARM loans available. 0% down payment on loans up to $599,999 and 10% down payment on loans $600,000 to $1,000,000.

No MI ARM Loan 
Offers a Loan to Value (LTV) ratio higher than 80% and doesn't require Mortgage Insurance (MI). 5/1 ARM loan available. Minimum credit score of 700.

100% Financing 
This program offers an 80/20 loan for borrowers that don't have money for a down payment and doesn't require Mortgage Insurance (MI). Minimum credit score of 700.

Jumbo Loans
The 5/1 ARM Jumbo Loan may be used for financing when a borrower's loan amount exceeds $453,100.  Available on primary or secondary homes. Minimum credit score of 700. Maximum purchase amount is $2 million.

Relationship Jumbo Loans
Busey customers that have a qualified relationship checking account or Private Client relationship may qualify for lower rates with a 5/1, 7/1 or 10/1 ARM.

Construction to Perm
Busey's Construction-to-Permanent loan is designed to help streamline the borrowing process when building a new home. It lets you lock the interest rate at the start of the construction phase and transitions to an ARM as your permanent financing. You'll make interest-only payments during the construction phase (up to one year) and only close on the loan once to save time and money.

Lot Loan
Busey's Lot Loan is designed to simplify the borrowing process when purchasing a parcel of land on which the buyer plans to build a home at a later date. Minimum credit score of 660. Maximum loan amount is $200,000.

Bridge Loan
This financing program is designed to facilitate a home purchase when borrowers need to use equity in an existing property to purchase a new primary residence. These can be originated concurrently with a permanent loan or structured as a standalone transaction. These loans must be paid off when the existing residence sells. Loans up to $4 million and 80% LTV. This is a 12-month balloon and must be on a listed or under contract property.

Home Equity 
This 2nd mortgage product is a great tool for variable spending needs, such as home improvements or paying off large debts. Busey offers both Home Equity Lines of Credit (HELOC) and Home Equity Loans. 

Click here for more details on these Home Equity options.

 

Busey Home Mortgage NMLS #426554
12300 Olive Boulevard, St. Louis, MO  63141
Toll Free:  (888) 649-3320
mortgage@busey.com
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