Loan Program Breakdowns

Province Mortgage Associates has evolved extensively over the years, especially when it comes to the enormous number of mortgage options available to our clients.

The expansion of our product line is ongoing as we are committed to helping as many borrowers as possible achieve the dream of being successful homeowners. What follows is an overview of just some of our many lending options. We encourage you to call a Province Mortgage Advisor today so we can tailor the right mortgage to your needs!

For more on these products, simply click the links below each program for a full breakdown.

Rick Pannone
Director of Capital Markets

Rick Pannone

Government Mortgage Products


  • 3.5% minimum downpayment
  • Lenient underwriting guidelines
  • Highest DTI (Debt to Income) threshold
  • Minimum FICO score: 580

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  • 100% financing
  • No minimum downpayment
  • Reduced mortgage premiums
  • Known as “rural development” loan
  • Minimum FICO score: 640

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  • 100% financing
  • No mortgage insurance
  • No money down
  • No prepayment penalty
  • Minimum FICO score: 620

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Conventional Mortgage Products

Fixed Rates

  • Competitive rates for higher credit scores
  • Loan amortization up to 30 years
  • Financing up to 4 units
  • Shorter term options available
  • Up to 97% of home’s value


Adjustable Rates

  • Lower interest rate options
  • Pricing options based on LIBOR index
  • Short term options available
  • 5, 7, and 10 year fixed periods available

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Other Mortgage Products

Rehabilitation Loans

  • FHA 203k
  • HomeStyle
  • Allows consumer to finance repairs
  • 1 loan at a low interest instead two

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Reverse Mortgage Loans

  • Also known as “home equity conversation mortgage”
  • Allows homeowner to access equity
  • No mortgage payments required
  • Increase cash flow for fixed income
  • Minimum age of borrower: 62 years

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Refinance Loan Programs

  • Rate and Term refinance – Changing the interest rate and term of the mortgage loan
  • Cash out refinance – Supplies proceeds in excess of mortgage payoff
  • Fannie Mae RefiNow

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Non-QM Loans

  • Non-Qualified Mortgages: Ideal for unconventional borrowers lacking traditional eligibility.
  • Alternative Income: Self-employed borrowers qualify using bank statements or 1099s.
  • Asset Utilization: Ideal for those with assets but no proof of income.
  • DSCR: Debt-Service Coverage Ratio measures cashflow to qualify.
  • Additional Loan Options – Mixed-Use, Non-Warrantable Condos, Foreign Nationals, Investment Property First Position HELOC’s

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    State Housing Programs

    Which Program Is Best for Me?

    Our award winning staff is waiting to answer any questions you may have. If you already have a mortgage advisor in mind, or if you would like to look through them all in greater detail, we welcome you to do so now!