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Conventional Fixed Rate Loans
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- The interest rate is fixed for the life of the loan
- Most often used by homebuyers who expect long term ownership of the home
- Monthly principal and interest payments remain the same for the life of the loan
- No prepayment penalties for partial or full payment before the maturity date
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Home Equity Loans
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- Receive cash out of your current primary residence
- Pay off Credit Card Debt
- Use the funds for any purpose you desire
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Adjustable Rate Loans
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- Designed for buyers who plan to keep the home for a shorter period of time
- The intial interest rate is typically lower than a conventional fixed rate loan
- The interest rate is fixed for the initial period of 3, 5, 7 or 10 years
- The rate adjusts annually after the initial fixed period
- Lower monthly payments during the initial period
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FHA and VA Loans
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- Designed by the Federal Government to increase home ownership
- Low or no down payment
- Easier qualification requirements
- Competitive interest rates
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Reverse Mortgages
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- Specifically for persons 62 years of age and older who own their homes
- Great way to eliminate debt or increase cash flow
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Jumbo Loans
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- Fixed or Adjustable rate programs available
- Programs to accomodate loan amounts up to $4,000,000.00
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Affordable Home Programs
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- Specifically designed to make it easier for first-time homebuyers and individuals or families with low-to-moderate incomes to qualify for a mortgage loan
- Lower down payment requirement
- Income restrictions apply
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