Loan Programs

Fixed-Rate Mortgages

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.

Hybrid ARMs
(3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)

Hybrid ARM mortgages combine features of both fixed-rate and adjustable rate mortgages and are also known as fixed-period ARMs.

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.

VA Loans

Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specified period of time.

Components of an ARM

Prior to choosing a home loan, you should know the advantages and risks of adjustable-rate mortgages to make an informed, prudent decision.

Commonly Used Indexes for ARMs

This article includes a list of the most commonly used indexes by ARM lenders that affect ARM mortgage rates.

Balloon Mortgages

Balloon mortgages include a note rate that remains fixed initially, and the principal balance becomes due at the end of the mortgage term.

Reverse Mortgages

Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.

Graduated Payment Mortgages

Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and become fixed for the remaining duration of the loan.

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.