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Loan Programs
Fixed Rate Mortgages
Adjustable Rate Mortgages
Balloon Mortgages
First Time Buyer Programs
No Income No Asset
Stated Income Programs
No point, No fee Programs
Sub Prime Credit Programs
Home Equity Line of Credit
Teachers Program
100% Loan Programs
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Adjustable Rate Mortgages
This type of loan is an excellent way to go if you plan on keeping the
home for a short period of time.
1 year ARM, 3/1 ARM, 5/1 ARM,
7/1 ARM,
Advantages
- Lower monthly payment for fixed period
- Lower payment over a shorter period of time
- Rates and payments may go down if the index is reduced.
- May qualify for higher loan amounts
Disadvantages
- More risk with rate adjusting
- Payments may increase or decrease depending on index
- Potential for high payments if rates go up
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