Mortgage Programs

An overview of common mortgage programs available these are usually available under mortgage categories such as FHA Mortgage Loans, Conventional Loans and Jumbo Mortgage Loans.

30 Year Fixed Mortgage Home Loan Rates

A 30 year fixed interest mortgage loan has an interest rate that will not change for the 30 year period. This is the most stable mortgage product and offers peace of mind to the borrower. You know every month that there will be no surprises.

15 Year Mortgage Loan

A 15 year mortgage has a fixed rate for fifteen years. If you can afford the payment you will have the benefit of watching your mortgage bill disappear rather quickly. Its notable that a 30 year loan can also be paid off in 15 or 10 years by making additional mortgage payments on a regular basis.

Interest Only Mortgage

An interest only mortgage allows you to only pay the interest due each month. You are not paying anything toward the principal. This loan is great if you don't plan on staying at the house for more than 5 years. You are looking to pay as little as possible and only want the tax write off.

Adjustable Rate Mortgages

Commonly used during high interest rate periods adjustable interest rates provide a low initial rate and can and do adjust higher or lower depending on the index and margin that are assigned to them.

Buydowns

Mortgage buydowns allow you to pay additional fees in order to receive a discounted rate on your mortgage for the first 2 or 3 years. This can be a great help for those that would like to spend money on furnishing or updating their new home. It makes the transition into home ownership a lot easier to handle.