Loan Types

Let Breeze Mortgage tailor a loan to fit your needs.

When it comes to finding the right mortgage to fit your needs, you might hear your mortgage broker use words like stated income, ARM or sub-prime. The following is an explanation of some of these types of loans. There is no such thing as a “one size fits all” loan, and every borrower has different needs and/or goals.


ARMS

A variable or adjustable rate mortgage is a loan whose interest rate, and monthly payments, fluctuate over the period of the loan. With this type of mortgage, periodic adjustments based on changes in ...Click here to read more.
B/C Loans (Sub Prime)

Loans that do not meet the borrower credit requirements of Fannie Mae and Freddie Mac are called 'B', 'C' and 'D' paper loans vs. 'A' paper conforming loans. B/C loans are offered to borrowers that ma...Click here to read more.
Cash out refinance

In a cash out refinance, determine the balance of your mortgage, and the amount of cash you are taking out plus any closing costs. The total is your loan amount. An appraiser will determine the value ...Click here to read more.
Debt Consolidation

In a debt consolidation refinance, determine the balance of your mortgage, and the amount of cash you are taking out plus any closing costs. The total is your loan amount. An appraiser will determine ...Click here to read more.
Fixed Rate Mortgages

With fixed rate mortgage (FRM) loan the interest rate and your mortgage monthly payments remain fixed for the period of the loan. Fixed-rate mortgages are available for 30, 25, 20, 15 years and 10 yea...Click here to read more.
Interest Only

An Interest only can be an excellent choice for some borrowers. They are designed to offer the lowest payment possible as you are not paying anything toward the principal in your normal monthly paymen...Click here to read more.
Jumbo

Loans above the maximum loan amount established by Fannie Mae and Freddie Mac are known as 'jumbo' loans. Because jumbo loans are bought and sold on a much smaller scale, they often have a little high...Click here to read more.
No Doc

A true No Doc loan requires no employment, income, or assets to be stated on your loan application. The lender does not verify any information beyond your credit profile and the value of the property....Click here to read more.
No Ratio

A No Ratio Mortgage is a useful option if you are carrying more debt than a traditional mortgage loan will allow. In traditional mortgage banking your debt to income ratio is one of the key factors in...Click here to read more.
Stated Income

Stated Income Mortgage Loans are the most commonly used and least expensive product in the reduced or no documentation suite of programs. A Stated Income Mortgage Loan is often the perfect choice if y...Click here to read more.