Conventional Fixed Rate Loans For the typical borrower, we have several conventional fixed rate loan products with a loan amount of up to $417,000 at the prevailing competitive rates. Terms extend from 10, 15, 20, and 30 years with up to 100% financing for qualified borrowers. Adjustable Rate Loans Also available are a variety of variable rate loans including the 5/1, 7/1, and 10/1 ARM痴. Variable rate loans typically offer the borrower a lower rate initially in place of the fixed rate security, ideal for the borrower who plans to own the property for a specific amount of time. These loans have fixed rates and fixed payments for only the 5, 7, or 10 year period, in which they will adjust yearly upon the end of the initial term. Balloon Mortgage The loan balance remaining at the end of the term calls for full repayment of the balance. Interest-Only Loans A mortgage in which the monthly payment consist of the payment of interest only for a certain period of the loan term; during the interest only term the principle loan balance remains unchanged. Jumbo and Super Jumbo If the anticipated amount of your mortgage loan exceeds the maximum amounts permitted by other programs, we offer a variety of mortgage options which will meet your needs. Jumbo loans may be up to $1.0 million and can be either fixed or adjustable rate mortgages. Underwriting guidelines may vary depending on the program selected, down payment and actual loan amount. Repayment options also vary, enabling you to select a mortgage that fits your needs. First Time Homebuyers We have many innovative and affordable programs for the first time homebuyer. Buying your first home is such an exciting time and you need a knowledgeable mortgage professional to guide you through the financial options you have available. We have many different 100% financing programs, 3% down payment programs, VA, and even low down payment mortgages with Bruised Credit. So when faced with such an important financial decision, make it a point to talk to one of our experienced mortgage consultants and get pre-qualified for your new home today. FHA Loans A mortgage loan where the lender is insured by the Federal Housing Administration. FHA requires the borrower to pay the mortgage insurance premium and must meet certain qualifications. The down payment required and maximum loan amount are usually a fairly low amount. VA Loans We have VA loans for borrowers who have or do serve in the United States military. We provide mortgages for veterans to purchase a home and also for refinancing their current VA mortgage to a lower rate or term. Home Equity Lines Of Credit A good source of "security", the equity line offers a constant source of immediately available money that is only a checkbook away. As the money is repaid, the borrowing power returns, and interest accrues only on monies in use. Again, home equity lines may yield tax deductions. (Consult with a tax advisor) Lender paid Mortgage Insurance Mortgage Insurance is an insurance policy taken out on the borrower by the lender in case of mortgage default to insure the lender against financial losses. Mortgage insurance is required on all loans which have loan to values greater than 80%. The interest rate is usually slightly higher because the lender is covering the mortgage insurance risk. PMI may or may not be tax deductible, please contact your tax advisor for the most recent tax changes. Second Mortgage Loans Up to 100% financing is available to the qualified borrower thereby allowing the utilization of the maximum equity in the home. This is an excellent choice for a homeowner looking for quick access to cash because it is almost as easy as applying for a personal loan but at lower rates. Your second mortgage can either be a Home Equity Line Of Credit (HELOC) or fixed rate second mortgage. Second mortgage interest may be deductible. (Consult with a tax advisor)