LOAN TYPE: AGENCY (FNMA, FHLMC)
POSITION: 1ST
RATE TYPE: FIXED
PAYMENT TYPE: AMORTIZING
LOAN LIMITS: $484,351 – $726,525
LTV Limits:
INDEX: 10-Yr Treasury
TERMS: 10, 15, 20, 25 & 30 Yrs, Custom

ADVANTAGES:
• Lower fixed rates than portfolio Jumbo loans
• Lack reserve requirements of Jumbo lending
• No pre-payment penalties
• Higher LTV limits than most Jumbo products
• Lower FICO requirements than most Jumbo loans
• ELX can originate Super Conforming loans NATIONWIDE, without regard to County lending limits
DISADVANTAGES:
• Interest “front end loaded”
• Can entail Forced MI and Escrows
• Assets as Income not allowed