Camas
Preferred Properties Financing Program
The Preferred Properties Financing Program
Loan program available on Select lots at Lacamas Meadows!
80% LTV @ 3.875% w/1 % loan fee, reserves required
90%-95% LTV @ 4.5% w/1 % loan fee, PMI required, then rate is 4.620% with
required, reserves required.
If borrower cannot get PMI, then rate is 4.620% with 1% loan fee and reserves.
100% financing, 4.875% w/1% loan fee, reserves required. No PMI
This is a Banner Bank mortgage. No prepay, adjustments, no 80/10/10 .... just a straightforward 30 year fixed rate mortgage. We are offering this special financing to help out
builders through this tough time or to work a subdivision we took back.
Community Financial Corporation ("CFC") is about 25 of us. We all used to work at
Washington Mutual and left in 2000. Our corporate office is out of Lake Oswego and
Karen works out of Vancouver as she lives in Battle Ground, WA.
CFC is a subsidiary of Banner Bank out of Walla Walla, WA.
CFC has its own loan processing group, underwriter and closing department. Karen can
do telephone mortgage applications with documentation via mail, fax, etc. We
try and get the borrower "automated" approved within 48 hrs. This then allows Talbitzer
to proceed w/construction as a presold home. Automated approval is subject to
completion of home, satisfactory appraisal preliminary title report and final
Underwriter approval by Banner.
