Loan Programs
Which Mortgage is Right for You?
There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we’re here to help you choose the best type of home loan for your needs.
Mortgage Rate Options
Fixed Rate
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.
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Adjustable ARM
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-i...
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Interest Only
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
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Buydown Loans
What is a Buydown loan? This type of loan is a fixed rate mortgage that includes a special feature, typically paid for by the seller of a home, that reduces the payment to...
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Loan Program Options
FHA Home Loan
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA Loans
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...
Conventional Loans
A conventional conforming loan is a mortgage that meets (conforms) the loan limits set forth by the Federal Housing Finance Agency (FHFA), currently $700,000, and the lending guidelines and criteria set forth by Freddie Mac and Fannie Mae. Conforming loans are advantageous due to their low interest rates and ability to serve a wide array of borrowers.
Jumbo Loans
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $700,000 in...