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Mortgage Programs
Conventional Loans that follow the terms and conditions established by the guidelines of Fannie Mae and Freddie Mac.
The interest rate and the principal payments remain fixed throughout the loan. Keep in mind your monthly escrow account payment could vary from year-to-year as taxes and insurance rates change.
The interest rate on the loan fluctuates over the period of the loan. Periodic adjustments to the interest rate are made based on changes to a defined index. The loans interest rate is determined by adding a fixed number of points to the defined index.
VA helps Veterans, Servicemembers, and eligible surviving spouses become homeowners.
Occurs when a borrower takes out two loans simultaneously: one for 80 percent of a home's value, and the other to make up for whatever cash is lacking to make up a 20 percent down payment.
Get 100% financing, plus, low closing costs to save more and get into a home sooner.
A jumbo mortgage is a home loan for an amount that exceeds conforming loan limits established by regulation. A non-conforming loan is a loan that fails to meet bank criteria for funding.
A classification of loans associated with the borrowers that have tainted or limited credit histories. Generally, B/C refers to any loan that is classified as subprime, or a "B" or "C" class loan.
A mortgage insured by the Federal Housing Administration. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.
