Loan Programs

Understanding the different loan programs available to you.

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30 YEAR FIXED

A 30-year fixed mortgage is a loan that has a fixed interest rate for the life of the loan. At the end of the 30th year, if payments have been made on time, the loan will be paid off. The advantage of...Click here to read more.


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10/1 ARM

The rate is fixed for a period of 10 years after which in the 11th year the loan becomes an adjustable rate mortgage (ARM). The adjustable rate is tied to the 1-year treasury or LIBOR index and is add...Click here to read more.


10/1 ARM INTEREST ONLY

Almost identical to the 10/1 ARM with the only difference being that none of the payments go toward retiring principal for the first 10 years. Thereafter, it becomes an amortizing mortgage, with payme...Click here to read more.


15 YEAR FIXED

A 15-year fixed mortgage is a loan that has a fixed interest rate for the life of the loan. At the end of the 15th year, if payments have been made on time, the loan will be paid off. The advantage of...Click here to read more.


3/1 ARM

The rate is fixed for a period of 3 years after which in the 4th year the loan becomes an adjustable rate mortgage (ARM). The adjustable rate is tied to the 1-year treasury or LIBOR index and is added...Click here to read more.


3/1 ARM INTEREST ONLY

Almost identical to the 3/1 ARM with the only difference being that none of the payments go toward retiring principal for the first 3 years. Thereafter, it becomes an amortizing mortgage, with payment...Click here to read more.


5/1 ARM

The rate is fixed for a period of 5 years after which in the 6th year the loan becomes an adjustable rate mortgage (ARM). The adjustable rate is tied to the 1-year treasury or LIBOR index and is added...Click here to read more.


5/1 ARM INTEREST ONLY

Almost identical to the 5/1 ARM with the only difference being that none of the payments go toward retiring principal for the first 5 years. Thereafter, it becomes an amortizing mortgage, with payment...Click here to read more.