Welcome to The Basic Loan Options

50-Year Fixed Rate Mortgage

These types of mortgage programs allow you to carry a fixed interest rate for a specified amount of time. Once that time is up, you will assume an adjustable rate for remaining life of the loan. For example, if you choose a 50/5 year fixed/adjustable rate mortgage, you would have a fixed interest rate for the first five years of the loan and an adjustable rate for the remaining years.

40-Year Fixed Rate Mortgage

The 40-year loan is a conventional mortgage in which the borrower will pay fixed monthly payments for the life of the loan.

30-Year Fixed Rate Mortgage

This is a conventional mortgage which provides for a fixed interest rate and level payments for the 30-year life of the loan.

15-Year Fixed Rate Mortgage

The 15-year loan is a conventional mortgage in which the borrower will pay fixed monthly payments for the life of the loan. With a 15-year loan, payments are higher than a 30-year loan, but the loan is paid off much faster.

1, 3, 5, 7, 10 Adjustable Rate Mortgages

These types of mortgage programs allow you to carry a fixed interest rate for a specified amount of time. Once that time is up, you will assume an adjustable rate for remaining life of the loan. For example, if you choose a 3 year adjustable rate mortgage, you would have a fixed interest rate for the first three years of the loan and an adjustable rate for the remaining years.

10/1, 10/6, 7/1, 7/6, 5/1, 5/6, 3/1, 3/6 Treasury ARMs

These loans provide for a fixed interest rate for a specified amount of time. After that you pay a variable interest rate with annual adjustments. For example, if you selected a 10/1 Treasury ARM loan, you would have a fixed interest rate and fixed monthly payments for the first 10 years of the loan. The remaining life of the loan would assume a variable rate annually.

3-Year, 1-Year, 6-Month Treasury ARMs

This type of loan applies adjustments to the interest rate payments in various ways. For example, if you selected the 6-month option, your interest rate would adjust every six months. In comparison, if you selected the 3-year option, your interest rate would adjust every 36 months.

Jumbo Loan Programs

These mortgages allow you to borrow more than an amount set by the Federal National Mortgage Association. As of January 1, 1999 any loan over $417,000 is considered a Jumbo Loan.

Conventional Loan Programs

Any loan that allows you to borrow within the amount set by the Federal National Mortgage Association. Currently, loans under $417,000.

High LTV

Great loans that do not have mortgage insurance used for refinance or purchase mortgage home loans.