Mortgage Options

30 year Fixed Rate
This program has a fixed rate for the entire term with a payment that does not change. This is a great choice if you plan on staying in your home for a long period of time.

15 year Fixed Rate
This loan much like the 30 year, has a fixed rate and set monthly payment. The benefits of this program are you generally have a lower rate and own the home in half the time. Your payment on this program is approximately 25% higher than the 30 year.

FHA Loans
These are Government loans which offer homeowners the option of making smaller down payments but have limits as to who can qualify. This is also an assumable loan for any qualified buyer.

USDA Loans
A USDA Guaranteed Loan is Government insured 100% purchase loan. These Loans are only offered in rural areas and serviced by direct lenders that meet federal guidelines.

VA Loans
This loan is backed by the Department of Veterans Affairs and is available for qualified veterans, offering little or no down payment. A VA funding fee may be imposed depending on the down payment. This loan can also be assumed by a qualified buyer.

ARM - Interest Only (3/1, 5/1, 7/1, 10/1)
This is a fixed rate program for 3, 5, 7, or 10 years. During this time your monthly payment is based on the interest only. After the "Interest Only period" the loan then changes to an Adjustable Rate mortgage and payments will also change to cover the principle balance and interest up until the maturity date.

ARM - (3/1, 5/1, 7/1)
This loan starts off as a fixed rate for either 3, 5, or 7 years, then turns into an adjustable rate for the remaining months. This is typically a good choice for anyone planning to move before the adjustment occurs. Rates are generally lower than a conventional mortgage.