Fixed Rate Mortgages maintain the original interest rate throughout the life of the loan. A Fixed Rate Mortgage provides the borrower with the assurance and stability of an interest rate and monthly payment that remain unchanged throughout the life of the loan. Available in terms of 10, 15, 20, and 30 years, Fixed Rate Mortgages are great options for borrowers looking for a steady payment and a gradual reduction in principal balance over the term of the loan.

ARMs provide the borrower with a low initial start rate fixed for a set period of time before becoming adjustable. ARMs offer a reduced interest rate and payment allowing borrowers to drastically reduce their monthly payment and the cost of home ownership. These loans are available with a diverse selection of initial fixed terms ranging from as short as one month to as long as 3, 5, 7, or 10 years, allowing borrowers to choose the options that best meet their individual needs.

Interest-Only Loans feature an introductory period where the monthly payment is minimized, consisting only of the interest due after which the loan payments consist of both principal and interest. Available as both fixed and adjustable rate mortgages, interest-only periods range from 6 months to 15 years. Interest-only loans provide the borrower with maximum financial flexibility, minimizing monthly payments and maximizing purchasing power. The many options of interest-only loans enable borrowers to take greater control of their finances by enabling the interest only payment while having the option to pay down the principal balance.

Payment Option Loans provide the borrower with multiple payment options to choose from on a monthly basis, allowing homeowners to take greater control over monthly cash flow. Each month the borrower is given up to four different payment options, making the mortgage flexible to daily life. Available monthly payments range from traditional 15 and 30 year amortized payments to low interest-only payments to the minimum-payment option featuring payment rates as low as 1.00%*. Payment Option Loans are an excellent way for homeowners to better manage fluctuations in both income and expenses, and take charge of their financial situation.

*1.00% payment rate may result in negative amortization. Actual APR may vary.

Home Equity Loan Products, including Home Equity Loans (HELOANs) and Home Equity Lines of Credit (HELOCs), provide a wide range of financial options to both prospective and existing homeowners. For the buyer, HELOANs and HELOCs, can be extremely flexible forms of primary financing or can help maximize purchasing power as an alternative to a large down payment. For the current homeowner, home equity products can be used to consolidate debt, improve property, and finance education, among many other uses. Available in many forms, home equity products provide homeowners with countless money saving options, and the interest paid on them may be tax deductible.*

*Consult a tax professional to verify eligibility.

Zero or low down payments allow borrowers to purchase the home of their dreams. With the ever increasing cost of living and home prices rising at astounding rates, saving up for the down payment on a home can be very difficult. However, home ownership remains well within reach with an enormous variety of low down payment and 100% financing options available to all types of borrowers. Whether a single mortgage or a combination of two loans, both fixed rate and adjustable rate mortgages are offered. As a result of the wide selection to choose from, home ownership is now more affordable than ever.

Reduced and zero documentation loan options are now as common as the borrowers that need them. Several alternatives are available for borrowers with incomes that are difficult to document or verify. Forms of financing with reduced documentation include: Stated income with verification of assets, stated income with stated assets, and zero documentation, among other options.

Less than perfect credit no longer prevents individuals from obtaining home loans. Lenders specialize in providing all forms of home financing to borrowers with both past and present credit problems. Loan options including fixed rate mortgages, adjustable rate mortgages, interest-only loans, and Pay Option ARM’s are all available to borrowers with less than perfect credit. These expanded guidelines give more people the opportunity of home ownership.