Types of Loans |
Description |
| Fixed Rate Mortgage |
Interest rate remains constant over term of the loan |
Adjustable Rate Mortgage |
An interest rate that fluctuates over time |
Balloon Mortgage |
Principal and interest payments remain constant |
Conventional Mortgage |
Not obtained under a government program. Conforming and Jumbo loan |
Equity Mortgage |
Market value of property minus obligations |
Home Equity Lines of Credit |
Second Mortgages with up to 100% financing No closing cost options |
Fixed Rate Second Mortgage |
Less then 20% down? No problem, no need for mortgage insurance. |
FHA Mortgage |
A Federal Housing Administration (FHA) insured loan. Perfect for first time homebuyers. |
VA Mortgage |
A loan guaranteed by the Veterans Administration (VA). |
Interest Only Mortgage |
Low monthly payments-maximize your cash flow. |
80/20 100% Mortgage |
100% financing with no mortgage insurance |
Construction/Renovation Mortgage |
Financing options for new and existing home construction projects |
Construction to Permanent "CP" |
Mortgage features a one-time close for lot acquisition, funding fro construction and a modification to permanent loan, saving you money on closing costs |
Stated Income Mortgage |
Perfect for the self employer borrower who can not document income |
Stated Asset Mortgage |
Assets to close do not need to be documented |
Investor Mortgage |
Borrowers who are purchasing rental property |
Second Home Mortgage |
Single family, Town homes, and Condo financing |