| Conventional Loans
|
| The most common type for a first mortgage. These typically require
a 0-20% down payment and good credit. |
| FHA Loans |
| These loans are insured by the FHA. The credit requirements are not as strict as conventional
loans and also may not need as large of a down payment. A great option
for many first time home owners! |
| VA Loans
|
| These loans are offered to eligible veterans and active service
people to buy homes. |
| Jumbo Loans
|
| These are loans that go over about $417,000. They may
have a slightly higher interest rate and require at least a 5% down
payment. |
| Fixed Rate Mortgages |
| A fixed rate will guarantee your rate will never go up for the life
of the loan. These come in 10 to 30 year terms. |
| ARMS (Adjustable
Rate Mortgages) |
| The rates on these loans change occasionally according formulas
dependent upon the open market. They usually start at a lower rate
than fixed rate mortgages and have caps on yearly and lifetime rates
to insure that they will only vary a certain amount. |
| Construction Loans
|
| These loans will help you build a home. They often have a higher
rate than other loans but can sometimes be converted to permanent
financing. |
| Home Equity Loans |
| These are loans you can get by borrowing against the equity you
paid into your home. |
| No Cost Loans |
|
Close your loan with absolutely no money taken out of your pocket!
|
