Fixed Rate Mortgages (FRM): The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime. YOU CAN TAILOR THE LOAN TO ANY TERM.
Adjustable Rate Mortgages (ARM): Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.
Cash-out Mortgage: Homeowner equity is at an ALL-TIME high. Why not take advantage of lower mortgage rates and tap into your home's equity.....funds can be used for almost anything.....payoff debt, home improvements, education, etc.
FHA Loans: 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. IF YOU HAVE A CURRENT FHA LOAN, THE STREAMLINE MORTGAGE REFINANCE IS A FAST AND EASY WAY TO LOWER YOUR MONTHLY MORTGAGE PAYMENT.
VA Loans: VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of home ownership. IF YOU CURRENTLY HAVE A VA LOAN, THE VA INTEREST RATE REDUCTION LOAN (IRRRL ... pronounce "Earl") IS A GREATWAY TO LOWER YOUR MONTHLY MORTGAGE PAYMENT.
Reverse Mortgages: Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.
What kind of loan program is best for you?: Should you get a fixed-rate or adjustable rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer.