HOME	PROGRAMS	FIXED RATE	ADJUSTABLE RATE
CONTACT INFO	FHA LOAN	VA LOAN	BALLOON LOAN

LOANS PROGRAMS

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• ADJUSTABLE RATE MORTGAGES (ARM'S)
• FIXED RATE MORTGAGES
• FEDERAL HOUSING ADMINISTRATION (FHA)
• DEPARTMENT OF VETERANS AFFAIRS (VA)


• BALLOON LOANS



Below is a brief deecription of the basic loan programs available. For a more detailed description, please click on the underlined heading.

ADJUSTABLE

Monthly payments on an adjustable-rate mortgage (ARM) start out lower than fixed-rate mortgages, so the home buyer may qualify for a larger loan. The interest rate for an ARM is adjusted from time to time to bring it in line with changing market rates. The most common ARM is the 6-month ARM. The rate is in effect for 6 months and may be adjusted every 6 months therefore, based on the applicable index.


FIXED

Fixed rate fully amortizing loans have two distinct features. First, the interest rate remains fixed for the life of the loan. Secondly, the payments remain level for the life of the loan and are structured to repay the loan at the end of the loan term. You'll always know what to expect. Steady payments and no risk. The most common fixed rate loans are 15 year and 30 year mortgages.


FHA

Qualification is usually easier for FHA loans. With FHA loans the down payment is usually quite low. The Federal Housing Administration sets maximum loan limits that follow the median prices in different cities within a particular area.


VA

VA loans are administered by the Department of Veterans Affairs to help veterans of the Armed Forces buy homes up to a specified amount with no down payment. VA loans offer stable and predictable fixed interest rates. If you've served in the U.S. Armed Forces and qualify for a VA loan, this may be the best way for you to finance your home.

BALLOONS

Balloon loans are short term mortgages that have some features of a fixed rate mortgage. The loans provide a level payment feature during the term of the loan, but at the end of the loan term there is still a remaining principal loan balance and the lender generally requires that the loan be paid in full. Normally, you would consider a balloon loan if you intended to sell or refinance your home before the end of the initial period.


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To better serve you please contact me to request more specific information or to find out how to qualify. To send me an e-mail click here. Or you may call me at (562)896-9708.