Loan Programs

The following is a partial list of programs offered by F&B Financial Group with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at (314) 496-9506 or at F&B Financial Group at (314) 567-9795, ext. 107.

USDA Rural Loan Program

100% financing available if the subject property is located in an approved area of Missouri. 30 Year Fixed Rate loans.

Reverse Mortgages

A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence. FHA’s HECM provides these benefits. You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.

Construction Financing

We offer a cutting edge construction financing program for those customers who need financing throughout the construction phase. Plus, we offer the added advantage to our builder customers of offering a seamless and efficient process.

VA Loans

A mortgage loan insured under the Veteran Administration’s (VA) mortgage loan program. 100% financing is available and the loan does not require Private Mortgage Insurance (PMI).

FHA Loans

FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.

Conventional

Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary.

Investor Loans

Used to finance 1-4 family properties that will be for investment with as little as a 20% down payment.

Construction Loans

Building a new home can be an exciting prospect – unless you get caught up in a construction loan approval process that is overly complicated and time consuming. With this loan, we will finance up to 90% of the cost of land plus the costs of construction. We offer a one-time fixed rate closing or traditional ARM products.

Second Mortgage Loans

Subordinate to the first mortgage, these loans offer the borrower the ability to get money for home improvement, debt consolidation, or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.

High Debt Ratio Loans

A ratio of monthly bills to monthly income higher than 50% is considered a high debt ratio. Loan programs are available for borrowers in this situation, allowing them to finance the purchase of a home or property.

Challenged Credit Loans

These mortgages are for borrowers with less-than-perfect credit. They can vary from slightly damaged credit to severely damaged. Regardless of your situation, we have a mortgage that will get you back on track.

Jumbo Loans

Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.Cash out and No cash out refinance are allowable. Single family detached, Condo’s, PUD’s and single-family second homes can be financed with no prepayment penalty.

80/15/5

This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/5.

Credit Problems

Troubled credit? Bankruptcy? Been turned down somewhere else? We offer loan programs for customers with credit problems.
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    We appreciated Matt’s attention to detail and high level of knowledge about the market and interest rates.

    Sara Neill

  • Current Rates

    Rates change daily and fees will vary. Please call F&B Financial Group at (314) 567-9795, ext. 107 for your personalized quote.

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