Traditional Property Types

You can finance the following property types using Tower's standard mortgage products:

• Single Family Residences and Townhouses
• Condominiums (Maximum 90% loan to value, for second homes maximum of 75% loan to value)
• Planned Unit Developments (PUD)

We offer 95% financing for 30-year first-time homebuyer transactions.

We will finance up to 95% of the purchase price or appraised value, whichever is lower ( condos, second homes and jumbo loans only 90%) for purchase transactions.  Not availalbe in some states.

We will finance up to 95% of the appraised value for no-cash out refinance transactions. (90% for condos and jumbos loans)  Not availalbe in some states.

We will finance up to 80% of the appraised value for cash-out refinance transactions(75% for second homes). Cash-out transactions are subject to pricing adjustments. Not available in some states.

The maximum amount for combined real estate loans (first and second mortgages) is $1,000,000

Occupancy Types

We can finance the property with the following occupancy types:

•       Owner Occupied
•       Second/Vacation Home

 States

We currently finance mortgages in all 50 states and the District of Columbia.