Loan Progams & Products

Loan Programs Advantages

Fixed Rate Mortgages

30 year fixed * Monthly payments are fixed over the life of the loan

15 year fixed * Interest rate does not change

* Protected if rates go up

* Can refinance if rates go down

Adjustable Rate Mortgages

10/1 ARM * Lower initial monthly payment

7/1 ARM

3/1 ARM * Lower payment over a shorter period of time

1 year ARM

6 month ARM * Rates and payment may go down if rates improve

1 month ARM

* May qualify for higher loan amounts

Balloon Mortgages

7 year * Lower initial monthly payment

5 year * Lower payment over a shorter period of time

* Many balloon mortgages offer the option to convert to a

new loan after the initial term

First Time Buyer Mortgages

•  Lower down payment

•  Easier to qualify

•  Sometimes you may get lower rates

Stated Income Programs

•  Don't need to verify income

•  Faster approval

Imperfect Credit Programs

•  Potential for re-establishing credit if you pay your

mortgage on time.

•  When used for debt consolidation, you may be able to

Reduce your monthly debt payment.