Loan Programs

Fixed Rate Mortgages The traditional fixed rate mortgage is the most common type of loan programs, where monthly principal and interest payments never change during the life of the loan.

FHA Mortgages The Federal Housing Administration (FHA) was established in 1934 to improve housing standards and conditions and to provide an adequate home financing system through insurance of mortgages. Families that would otherwise be excluded from the housing market were finally able to buy the homes of their dreams.

Interest Only Mortgages A mortgage is called “interest only” when its monthly payment does not include the repayment of principal for a certain period of time.

Hard Money Loans This is a list of the most commonly used indexes by ARM lenders.

Balloon Mortgages Balloon mortgages have a note rate that is fixed for an initial period of time, and then the remaining principal balance is due at the end of the term.

Reverse Mortgages Reverse Mortgage is a type of home equity loan that allows you to convert some of the equity in your home into cash while you retain home ownership.

What kind of loan program is best for you? So what kind of mortgage is best for you? Fixed rate? Adjustable rate? Government loans? The truth is, there is no one correct answer.