Specialty Loans & Mortgages
If you’re looking for something beyond a conventional loan, the lending experts at Flagstar Bank can craft a specialty mortgage with your needs in mind.
Our specialty mortgage services
When it comes to lending, we understand that mortgages aren’t a one-size-fits-all solution. That’s why Flagstar offers several options to meet various needs and situations. Browse our specialty loan offerings below.
Multiple Property
This fully amortizing, conventional conforming first-lien mortgage loan program is available in a fixed and adjustable rate, and is specifically designed for borrowers with 7 to 10 financed properties.
Jumbo Adjustable Rate
This adjustable-rate mortgage product (ARM) allows for financing on distinctive properties ranging from $484,351 to $3M. ARM periods are available with an initial fixed rate of 5, 7, or 10 years. Your Flagstar Bank financial craftsman can offer jumbo products that require a minimum down payment of 10%.1
This adjustable-rate mortgage product is specially crafted with terms and conditions uniquely flexible for eligible professionals who have recently finished school, are early in their career, or ready to refinance at a more favorable rate. And with low down payments and no mortgage insurance required, it’s an excellent way for qualified individuals who’ve earned this opportunity to purchase or refinance.
Jumbo Fixed Rate
This fixed-rate mortgage product allows for the purchase or refinance of homes priced above the conventional loan size and up to $3 million. Fixed-rate jumbo products from Flagstar Bank require a minimum of 15% down payment for purchase transactions.1
Fixed Second Mortgage3
This product enables borrowers to avoid mortgage insurance–even with down payments as low as 10%—by restructuring a single loan into a first/second mortgage combo.1 It can also be used as an alternative to a jumbo loan.
High Balance
This specialty mortgage product—available in either fixed- or adjustable-rate formats—is crafted to accommodate borrowers looking to purchase or refinance properties in areas designated as “high–cost.” The loan amounts exceed the typical loan size limit of $484,350.
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All borrowers are subject to qualification, underwriting approval, lender terms and conditions. Terms, conditions, and rates are subject to change without notice.
1Generally, the smaller your down payment percentage, the higher your interest rate. A loan-to-value ratio above 80% may result in a need for mortgage insurance. If mortgage insurance is required, the amount of your payment will increase.
2Eligible borrowers include those employed as: medical resident (Educational License), doctor of medicine (MD), doctor of dental surgery (DDS), doctor of dental medicine (DMD), doctor of optometry (OD), doctor of ophthalmology (MD), doctor of podiatric medicine (DPM), doctor of osteopathic medicine (DO), certified public accountant (CPA), attorney, doctor of veterinary medicine (DVM), nurse anesthetist, nurse practitioner, clinical nurse specialist, and airline transport pilot (ATP).
3This is a subordinate-lien, closed-end, fixed-rate loan. Loans under this program must be closed concurrently with a Flagstar Bank conventional, agency-eligible first mortgage. This is not a stand-alone second mortgage program.