Fixed Rate Mortgages - If your planning to stay in the home for 15, 20, 30 years or more, this may be the best program for you. Your monthly payments are fixed over the life of the loan, which means your interest rate and payment will stay the same, even if the rates go up. You can also refinance your home anytime you wish, if the rates drop below your current fixed rate.

Adjustable Rate Mortgages (aka “ARM Loan”) - If you are planning on living in the home 10 years or less, this may be the best program for you. Adjustable Rate Mortgages offer a floating interest rate equal to or less than the current market rates. Your mortgage may start at 7.5% and float to 6.250% if the market rates drop. However, rates may increase which will make your monthly payment go up.

Hybrid ARM - A Hybrid ARM is a combination of a fixed rate loan and an adjustable.  Typically the loan will be fixed at a certain interest rate for a period of time (for example 3 years) after which time it may adjust up based on the market rates at that time.  Hybrid ARM’s are a good idea for first time homebuyers who are planning on moving in a couple of years because you will have the protection of a fixed rate for the first couple years and then you will have moved before the rates could adjust.

Balloon Mortgages - Balloon Mortgages offer a fixed lower monthly payment for 5, 7, 15 years initially because the payment is amortized over thirty years. At the end of the balloon period, you must refinance at the current interest rate or pay the loan in full, which is also known as a final balloon payment.

Home Equity Line of Credit - Lines of credit are much like a credit card. If fact, some lenders issue credit cards as a way to draw off of the line of credit. Initially, you are issued availability to a certain amount of funds based on the equity available in your home. Your payments are based only on how much you borrow (take out) and what the current interest rates are. Interest rates for equity lines of credit are typically higher than mortgage rates, but lower than credit card rates.
 
Home Equity Fixed Loan - These types of loans are better know as a 2nd mortgage and typically have higher interest rates than a 1st mortgage. You can borrow a lump sum of money based on the available equity in your home. You will receive the money all at once and have a fixed payment over the life of the loan.

Home Improvement Loans - This type of loan provides you with cash to repair your home. You will have to provide an estimate of repairs from a certified contractor in order to qualify for this type of loan. When the work is completed, it will be inspected by the lender. Your appraisal will be based on the proposed repairs when qualifying for the loan.

Construction Loans - Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that’s overly complicated and time consuming.  Call today to learn more about how to build your dream home.  This type of loan provides funds to contractors directly that are building your home. The contractors initially get a lump sum and then submit invoices regularly to the bank for payment throughout the building process.

“80-15-5″ Loans - This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/5.

Jumbo Loans - For loan amounts over $322,700, we offers Fixed and Adjustable products with full document and no documentation. Purchases and all types of refinances are available with loan limits on some programs as high as $4,000,000.

No Money Down Loans - 0% Down payment required and closing costs can be financed with us with credit scores as low as 580. We are specialists at making low down payment loans work!

No Documentation (aka ”NO DOC”) & Stated - Loans where your income is not requested or verified with as little as 10% down are stated income loans. There are several varieties of the “no-doc” loan today. Depending on your situation and what you are trying to accomplish will dictate whether a no doc is the best way to go.

Subprime & Alt A  – If you have had credit problems in the past but are now working to get yourself back on track there are many programs that have been designed to help you own a home.  By speaking with one of our representatives we can get a picture of your credit profile and show you what your options are.

Investor Loans – Used to finance 1-4 family properties that will be for investment with as little as a 0% down payment. Aggressively priced these programs have many variations such as NO DOC, LIMITED DOC and FULL DOC.  We specialize in investment properties, and our professionals can help you analyze a transaction and decide whether it is a prudent decision.