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 minimal down payments.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.
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
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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Programs for qualified borrowers. All borrowers subject to credit approval, underwriting approval and lender terms and conditions. Programs subject to change without notice. Some restrictions may apply. Not a commitment to lend. A loan advisor will review and provide you the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.
With an adjustable-rate mortgage (ARM), your loan will have an initial fixed-rate period. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of the reset. Your variable rate can adjust annually for the remaining life of the loan. Your payment amount will vary based on any adjustment in the interest rate after the fixed-rate period.
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.