Specialty Loan Programs

 Keys On Time

Welcome to the 20-day Close with your offer backed by the purchasing power of a full loan approval. Our Keys on Time program will help your purchase offer stand out in a competitive market because we will work with you to get full underwriting loan approval to ensure your loan will close on time, even if you have not yet identified the property. We are 100% committed to owning what it takes to get your loan funded on or before the close of escrow. If your loan does not close on time, we will credit you $895 in closing costs.*

You can combine Keys on Time with our SecureLock program to have the security of a locked in interest rate even prior to making a purchase offer.

• Over 90% of owner-occupied homes qualify

• First-time and move-up homebuyers are eligible

• Single-family, condos, investment, second-homes

**Not available in Oregon. The “Keys on Time” program is a limited guarantee that APMC will provide a credit to the borrower of $895 after the close of escrow if, due to some fault on the part of APMC, its originators or other APMC staff, a purchase transaction does not close until a date after the originally stated close of escrow date. The “Keys on Time” limited guarantee does not apply if the purchase transaction fails to close on or before the anticipated close of escrow date due to events/circumstances beyond APMC’s control, including but not limited to, delays caused by: an unacceptable or unexpectedly low appraisal value on the subject property, acts or omissions by the escrow or title company, second lien holder approvals, short sale approval, or loan conditions imposed by the lender that, despite reasonable diligence by APMC, are not met by any party in a timely manner. The “Keys on Time” limited guarantee trigger begins when the initial loan package is received by APMC’s Fulfillment center. The complete loan package must be received in the APMC Fulfillment center a minimum of 20 days prior to the COE date. Exclusions: The limited guarantee does not apply to the HARP program, reverse mortgages, FHA 203k, non-delegated jumbo products or any loans that require prior approval from an investor. The limited guarantee applies to purchase transactions only. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

Home Ready 

As an alternative to the FHA program, Home Ready is a conventional 3% down* mortgage loan with even more flexible income qualification guidelines. In addition, Home Ready may have reduced mortgage insurance options, including no upfront mortgage insurance fees and may be cancelable per servicer/Fannie Mae guidelines.

Qualifications:

• The mortgage is a fixed rate loan up to $647,200

• Up to 97% LTV financing (3% down)*

• Eligible properties are single family-dwellings, PUD or condos as the owner’s primary residence

• Gift funds or Community seconds are allowable for the down payment

• Non-occupant co-borrower’s income can be used for qualifying

• Single-family accessory unit or boarder income can be used in qualifying

STaR Loan

A mortgage program dedicated to saving our selfless teachers, first responders and correctional officers a little money on their home loans. Current full-time employed teachers, police, firefighters, and correctional officers are eligible for our STaR program, which makes the process of obtaining a mortgage a little bit easier.

• Save up to $500 in reduced Lender Fees for qualified Teachers, First Responders, and Correctional Officers

• Gift fund options available which can be used for 100 percent of the home purchase down payment

• Take advantage of lender paid mortgage insurance options to reduce your monthly mortgage expense

• Gain peace of mind with a one-time interest rate renegotiation option, if rates improve prior to your closing docs being drawn

Borrower Qualifications

• Teachers: Must hold an appropriate teacher credential and be currently full-time employed in a public/private school

• Police/Sheriff/CHP: Must be currently employed full time with City, County, or State Law Enforcement

• Firefighters/First Responders: Must be currently employed full time with the City, County or State

• Correctional Officers: Must be currently employed full time with City, County, or State Law Enforcement