Whether you are purchasing your first home,or trading up to a larger home, we
can help you ..... more
Refinance
You may be surprised to find out how much you can save by refinancing your home
and/or shortening the term on your current mortgage contract......
more
Home Equity Loans
If you have equity in your home, you could use that equity to your advantage
and tap into a resource for cash...... more
Debt Consolidation
Loans
Consolidate your bills & lower your monthly payments......
more
Home Improvement Loans
If you're making improvements to your home, we can help you get started
today!..... more
Zero Down Loans
If you think you can't afford a home yet-come talk to us -you may be
surprised!....... more
Zero Equity Loans
Allows you to get access to the money you need, even if you have NO
EQUITY....... more
125% Home Equity Loans
Allows you access to the advantages of a mortgage loan without having equity in
your house...... more
Which one of our loan programs is the right for
you?
The table below shows a general "Rule of Thumb"
to use when deciding which loan program best fits your needs, and a description
of common loans programs available to today's borrowers.
Years you plan to stay in the house
Recommended program
1-3
3/1 ARM, 1 year ARM or 6 month ARM
3-5
5/1 ARM
5-7
7/1 ARM
7-10
10/1 ARM, 30 yr fixed or 15 yr fixed
10+
30 year fixed or 15 year fixed
Loan Programs
Advantages
Disadvantages
30 year fixed
15 year fixed
· Monthly payments are fixed over the life of the
loan
·Interest rate does not change
· Protected if rates go up
· Can refinance if rates go down
· Higher interest rate · Higher
mortgage payments
· Rate does not drop if interest rates improve
· Lower initial monthly payment
· Lower payment over a shorter period of time
· Rates and payments may go down if rates improve
· May qualify for higher loan amounts
· More risk
· Payments may change over time
· Potential for high payments if rates go up
· Lower initial monthly payment
· Lower payment over a shorter period of time
· Many balloon mortgages offer the option to convert to a new loan after the
initial term.
· Risk of rates being higher at the end of the
initial fixed period
· Risk of foreclosure if you cannot make balloon payment or if you cannot
refinance or if you cannot exercise the conversion option
· Lower down payment
· Easier to qualify
· Sometimes you may get lower rate
· May be subject to income and property value
limitations
· Some programs which have government subsidies may have a recapture tax if you
sell the house too early.
· Potential for reestablishing credit if you pay your
mortgage on time.
· When used for debt consolidation, you may be able to reduce your monthly debt
payment
· Higher rates
· Terms may not be as favorable
· Harder to get long term fixed loans
· Loans may have prepayment penalties
Besides our standard loan programs, we
also have a large number of unique programs to serve your needs:
Purchase a house with 0 down
Piggyback loans 80-10-10 or 80-15-5. No PMI payments even with 5% or 10% down.
Debt consolidation programs
Home Improvement loans
Qualify even if you may have been turned down before
