These mortgages are generally fixed for a 30 year term or 15 year term, however a 20 year term and a 10 year term are also available.  With these loans the interest rate does not change and the monthly payments are fixed over the life of the loan. 

These fixed rate products also have additional features available such as interest only and reduced documentation.

These products offer fixed rates for a shorter period of time from one month to 10 years.  After the fixed rate expires the rate then can adjust at specified intervals for the remaining life of the loan.  As an example, the 5/1 arm has a guaranteed or fixed rate for the first 5 years.  At the end of that time the rate can adjust once each year for the remaining 25 years.  The payments are still calculated with a 30 year term which allows a lower payment over a shorter period of time so a borrower may qualify for higher loan amounts.  The disadvantage is that it leaves a potential for substantially higher payments if the rates increase. 

The adjustable rate mortgages also offer features like the interest only payments and the reduced documentation loans.

The traditional program for First-Time Home Buyers is a 3% down FHA loan.  FHA loans have a government backed guarantee and they offer a lower down payment requirement and a more liberal qualifying formula then conventional loans.  

However, there are so many programs avaiable now with little to no money down.  These no down-payment mortgages can help reduce or eliminate nearly every cost associated with obtaining a home loan.  The most familiar of these programs combines two loans, an 80% first mortgage and a 20% second mortgage.

We also offer additional alternatives to paying regular mortgage insurance such as lender paid and montly tax advantage.

Borrowers with excellent credit qualify for mortgages up to 95% LTV with streamlined processing requirements.  There are additional products for mortgages up to 100% LTV and for borrowers who have a more average credit history.  These programs offer faster approvals with no need to verify income.

Borrowers can be self employed or salaried, and there are no reserve requirements.

With flexible guidelines, these programs allow borrowers with less-than-perfect credit to qualify for loans to consolidate debt and lower payments or make home improvement. 

Also allows borrowers the potential to reestablish their credit by making mortgage payments on time.