Which Mortgage Is Right For You?​
There are several different types of home loans available to you, and it can be helpful to familiarize yourself with them. Luckily, we're here to help you choose the loan program that best fits your needs. ​
Mortgage Rate Options
Fixed Rate
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.
Adjustable ARM
Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions.
Interest Only
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle.
Graduated Payments
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years)
Loan Program Options
Conventional Loans
A conventional loan is a type of loan that is not insured by the government. Conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
FHA Home 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
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no.
Debt Consolidation Loan
A debt consolidation loan allows you to combine multiple high-interest debts into one manageable monthly payment, often at a lower interest rate.
Jumbo Loans
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $766,550 in.