Mortgage Loan Options

There are many different mortgage loan options available to homebuyers. The best way to choose the right loan for you is to speak with a loan officer and discuss your financial situation and goals. With so many options available, there is sure to be a loan that meets your needs.

Loan Programs

There are many different types of mortgages. What type do you need?

You can consider a number of different types when it comes to home loans, and we’re here for you. We’ll help make sure to get you in the right one to suit your needs!

Mortgage Rate Options

Fixed Rate

A fixed rate mortgage is a type of home loan where the interest rate remains constant for the life of the loan. This means that your monthly payment will never increase, even if market rates rise. Fixed rate mortgages are a good option for borrowers who want the stability of knowing their payments will never go up.

Adjustable ARM

An adjustable-rate mortgage, or ARM, is a type of home loan that features an initial period of fixed interest rates followed by periods of variable rates. This means that after the introductory period ends, your monthly payments will fluctuate based on market conditions.

Interest Only

An interest only mortgage is a loan where, for a set period of time, the borrower only pays the interest on the loan. They do not pay any of the principal, or original, amount borrowed. At the end of the interest only period, the borrower must then begin making payments on both the principal and the interest.

Graduated Payments

A graduated payment mortgage is a type of home loan in which the monthly payments start out small and increase gradually over time. This type of mortgage can be an appealing option for borrowers who are just starting out and may not yet be able to afford a higher monthly payment.

Loan Program Options

FHA Home Loan

The Federal Housing Administration (FHA) offers a home loan program that can be a great option for first-time homebuyers. The FHA insures loans made by approved lenders, and the program offers several benefits, including low down payment requirements, flexible credit guidelines, and competitive interest rates.

VA Loans

A VA loan is a mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs (VA). The loan is available to veterans, active duty service members, and reservists. The VA loan program was created to help veterans adjust to civilian life after serving in the military. The loan program offers flexible terms, low interest rates, and no down payment requirements.

USDA Loans

USDA loans are government-backed loans available to eligible homebuyers in rural areas. The loans are administered by the U.S. Department of Agriculture (USDA) and are available through commercial lenders. USDA loans offer several benefits, including low interest rates and no down payment requirements.

Jumbo Loans

A jumbo loan is a type of mortgage loan that exceeds the conforming loan limits set by the federal government. Jumbo loans are available in both fixed-rate and adjustable-rate options, and they can be used to purchase primary residences, secondary homes, and investment properties.