LOAN PROGRAMS - WHICH
ONE 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:
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 specified amount of time.
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and then becomes fixed for the remaining duration.
LOAN PROGRAM OPTIONS:
Conventional Loans are not part of a specific government program, which means that they are serviced by private mortgage lenders like banks, credit unions, and/or other financial institutions - with a majority backed by either Fannie Mae or Freddie Mac.