Loan Programs
Which Mortgage is Right for You?
There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we’re here to help you choose the best type of home loan for your needs.
Mortgage Rate Options
Graduated Payments
A graduated payment mortgage is a loan where the payment increases each year for a predetermined amount of time (such as 5 or 10 years),
Interest Only
A mortgage is called “Interest Only” when its monthly payment does not include the repayment of principal for a certain period of time. Interest Only
Adjustable ARM
Adjustable Rate Mortgages (ARM)s are loans whose interest rate can vary during the loan’s term. These loans usually have a fixed interest rate for an
Fixed Rate
The traditional fixed rate mortgage is the most common type of loan program, where monthly principal and interest payments never change during the life of
Loan Program Options
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low-interest rates and no
If you’re looking to buy a home in a rural or suburban area with no down payment and minimal investment, you might consider the USDA Rural Development Loan.
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $548,250 in…