Below is just a sample of the 200+ Mortgage Products that Gulf American Mortgage currently offers. Apply On-Line, and we will help with the selection of the best program for your specific needs.

Purchasing a New Home

Refinancing an Existing Home

Home Improvement and Debt Consolidation Loans

ARM (Adjustable Rate Mortgage)

Investment/Rental Properties

New Home Construction

• Purchasing a New Home
  • No Money Down Program
    • This program allows borrowers to purchase a home with NO DOWN PAYMENT. Good credit is required to qualify for this program. This is an excellent program for the first time home buyer.
  • Vacation Home
    • Many people choose to buy a vacation or rental home in Southwest Florida while keeping their primary residence elsewhere. GAM has programs to assist in this purchase process with as little as 5% down and rates comparable to primary residences.
  • Jumbo Purchase
    • This program is for loan amounts over $322,700 and lending up to over $5,000,000.
  • No Income / No Asset Documentation
    • With this program we don’t verify income or down payment. This is an excellent program for the Self Employed borrower who can’t verify their income.
  • Non-Conforming Purchase
    • Even if your credit is less than perfect, or you’ve had a previous bankruptcy, this program will assist you in obtaining your dream of new homeownership or moving into a larger home to meet your needs, still at competitive rates.
  • Fannie Mae/Freddie Mac
    • Gulf American offers Fannie Mae and Freddie Mac’s full range of loan options. These are the country’s two largest providers of funding for mortgage loans.
  • FHA / VA
    • FHA is specifically designed for but is not limited to the first time homebuyer and only requires the customer to put a 3% down payment (which can come from a variety of sources including a gift). VA is only for our military veterans and requires 0% down payment. Both FHA and VA have very liberal credit guidelines, to assist all of America to the dream of homeownership.

• Refinancing an Existing Home
  • Rate / Term Streamline Refinance
    • If your goal is simply to lower your rate, term, monthly payment or ALL of the above this is the program for you. With closing times in less than 7 business days, it just doesn’t get any simpler than this.
  • Cash Out Refinance
    • Designed to allow the borrower to not only reduce their current interest rate or term, but also utilize the built up equity in their home. With very few restrictions on what the cash can be used for, this is an outstanding program to consolidate debts, make home improvements or even fund a child’s education.
  • No Income Verification Refinance
    • This program can be combined with nearly all of our lending programs and is designed for the customer with tough to verify income such as the self employed, commissioned or bonus employee. In many cases, the rates can be almost identical to a standard refinance loan.
  • Non-Conforming Refinance (A-D Credit)
    • This covers a wide array of refinance programs from credit levels A- through D. If you’ve only had a few minor blemishes to your credit, we can provide you with a comparable rate to those with perfect credit. If you’ve not paid a bill on time in 2 years, but want help getting back on track, this program is here to assist you as well.
  • Foreclosure/Bankruptcy Buy Out
    • Due to unforeseen circumstances, if you find yourself heading into bankruptcy or foreclosure, this program may just be able to save your house and get you back on track.
  • FHA/VA Streamline Refinance
    • Did you buy your home using and FHA or VA Loan. This program allows you to refinance that loan with very little documentation. Simply sign a few papers, and lower your rate. It is almost that simple.

• Home Improvement and Debt Consolidation Loans
  • Closed Ended 2nd Mortgage
    • This program is designed for all levels of credit, and can help you utilize the equity in your home all of which should be tax deductible. It allows for a fixed term from 5 years to 25 years. This is an excellent program for those who already have a great rate on their 1st mortgage, but still want to use to equity in their homes for debt consolidation, etc…
  • Home Equity Line of Credit (HELOC)
    • Not sure exactly how big of a loan you need. Not to worry, with a home equity line of credit you can secure a specific loan amount, but only take and make payments on what you need. This is an excellent program for home improvement projects. Typical HELOC’s have an initial “draw” period from 5-10 years, and a final payback period of up to 25 years.
  • 125% 2nd Mortgage Loan
    • Don’t have equity in your home? This program allows us to lend up to 125% of your homes value for home improvements, debt consolidation or cash out with loan amounts up to $100,000. Great for a new homeowner who hasn’t yet built up equity in their home. For instance if you have a $100,000 home, with a mortgage for $93,000 and want to borrow $25,000, this is the perfect program for you.

• ARM (Adjustable Rate Mortgage)
  • 3/1; 5/1; 10/1 ARMS
    • Most of our other programs can be combined with our ARM programs. This particular program starts with a fixed rate for a certain period, typically 3, 5, or 10 years then adjusts with the market once per year thereafter until the loan is paid in full. This is an excellent program for those expecting income increases in the future, or those borrowers expecting to move into a new home within a certain period of time. You enjoy both the benefits of a fixed rate for a certain period, as well as the lower rates that ARM’s offer.
  • FLEX ARM
    • Similar to a Home Equity Line of Credit, but is a 1st mortgage. The FLEX ARM can work as a purchase, refinance or cash out refinance. This program adjusts as prime + 0%. Today prime is at 4%. The FLEX part of this program is that the borrower can choose several payment options including an interest only payment.
  • Pay Option ARM
    • Currently the lowest interest rates available. Start rates as low as 1.95% APR and loan amounts to 2.5 million. Customer may make a fully amortizing payment, an interest only payment or a minimum less than interest payment. The customer can choose which payment to make each month. Perfect for the homeowner/buyer who wants to take advantage of payment flexibility to maximize their capital or the borrower who expects an increase in income in the future, and wants to buy their dream home today, based on future income levels.

• Investment/Rental Properties
  • Purchase
    • Looking to buy an investment property? With the incredible appreciation Southwest Florida has experienced this could be a great opportunity. Whether you are buying raw land, a Single Family Home, Condo, Duplex or something larger, let us help you make this purchase transaction.
  • Refinance
    • Need a lower rate and payment on your investment property? GAM offers the same great refinance programs for investment homes as we do for existing homes.

• New Home Construction
  • Construction Loan
    • Let GAM assist you in your construction loan needs. We offer several different construction loan options including interest only payments and an option to switch to permanent financing at the end of the transaction without going through the mortgage process again.