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30 Yr Fixed 5.875%

15 Yr Fixed 5.375%

3/1 ARM 4.250%

5/1 ARM 4.625%

30 Yr IO 6.250%

3 Yr IO 4.750%

5 Yr IO 4.875%

30 Yr Jumbo 6.875%

15 Yr Jumbo 6.625%

3/1 Jumbo 5.500%

5/1 Jumbo 5.625%

3 Y Jumbo IO 5.250%

5 Y Jumbo IO 5.625%

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910-509-2011

What Are The Basic Loan Types?

There are many loan products designed to meet the borrowers individual criteria. Most of these products fall under a few basic loan types.

Conforming Fixed Rate Loans

The Conforming Fixed Rate products provide the borrower with a payment and rate that stay the same for the entire term of the loan. These products are the most popular loans among borrowers because the rate and term are fixed for 30, 20, 15 or 10 years. Each payment contributes toward the principal and interest until the loan is fully amortized. A borrower should give this product serious consideration if their goal is to stay in a house for 10 years or more and the mortgage rate trend is increasing.

Product Term Rate

30 Year Fixed 30 Years Call

30 Year Fixed Interest Only 10 Yr IO, 20 Yr AM Call

20 Year Fixed 20 Years Call

15 Year Fixed 15 Years Call

10 Year Fixed 10 Years Call

Jumbo Fixed Rate Loans

The Jumbo Fixed Rate products, like the Conforming Fixed Rate products, provide the borrower with a payment and rate that are fixed for the term of the loan. The difference between these product and the Conforming products is that Jumbo loans are $417,000 and greater. These products also have rates and terms that are fixed for 30, 20, 15 or 10 years. Each payment contributes toward the principal and interest until the loan is fully amortized. A borrower should give this product serious consideration if their goal is to stay in a house for 10 years or more and the mortgage rate trend is increasing.

Product Term Rate

30 Year Fixed Jumbo 30 Years Call

20 Year Fixed Jumbo 20 Years Call

15 Year Fixed Jumbo 15 Years Call

10 Year Fixed Jumbo 10 Years Call

Non-Conforming Fixed Rate Loans

The Non-Conforming Fixed Rate product is often referred to as a Sub-Prime loan. This product is for borrowers with less than perfect credit. The Non-Conforming Fixed Rate loans generally consist of only a 30 Year Fixed product. This product is available for borrowers with a credit score down to 500. With a credit score of 580 a borrower can get a 100% full doc loan and with a credit score of 620 a borrower can get 100% stated.

Product Term Rate

30 Year Fixed Non-Conforming 30 Years Call

Conforming Adjustable Rate Loans (ARM's)

An Adjustable Rate Mortgage (ARM) is a product in which the interest rate is adjusted at certain points in the life of the loan based on a presellected index. This product, sometimes referred to as the variable rate mortgage, is fixed for the initial term and then usually adjusts annually thereafter. The ARM rates can be fully amortized (principal and interest payment) or interest only.

Product Term Rate

10 Year Conforming ARM 10/30 Year Call

10 Year Conf ARM Interest Only 10/30 Years Call

7 Year Conforming ARM 7/30 Years Call

7 Year Conf ARM Interest Only 7/30 Years Call

5 Year Conforming ARM 5/30 Years Call

5 Year Conf ARM Interest Only 5/30 Years Call

3 Year Conforming ARM 3/30 Years Call

3 Year Conf ARM Interest Only 3/30 Years Call

Jumbo Adjustable Rate Loans (ARM's)

A Jumbo Adjustable Rate Mortgage (ARM) is a product in which the loan amount is greater than $417,000 and the interest rate is adjusted at certain points in the life of the loan based on a presellected index. This product, sometimes referred to as the variable rate mortgage, is fixed for the initial term and then usually adjusts annually thereafter. The Jumbo ARM rates can be fully amortized (principal and interest payment) or interest only.

Product Term Rate

10 Year Jumbo ARM 10/30 Years Call

10 Year Jumbo ARM Interest Only 10/30 Years Call

7 Year Jumbo ARM 7/30 Years Call

7 Year Jumbo Arm Interest Only 7/30 Years Call

5 Year Jumbo Arm 5/30 Years Call

5 Year Jumbo Arm Interest Only 5/30 Years Call

3 Year Jumbo ARM 3/30 Years Call

3 Year Jumbo ARM Interest Only 3/30 Years Call

Non-Conforming Adjustable Rate Loans (ARM's)

A Non-Conforming Adjustable Rate Mortgage (ARM) is an ARM product for borrowers with less than perfect credit. Like the Conforming ARM, the interest rate for the Non-Conforming ARM is adjusted at certain points in the life of the loan based on a presellected index. This product, sometimes referred to as the variable rate mortgage, is fixed for the initial term and then usually adjusts annually thereafter. The ARM rates can be fully amortized (principal and interest payment) or interest only.

Product Term Rate

3 Year Non-Conforming ARM (3/27) 3/30 Years Call

3 Year Non-Conforming ARM Interest Only (3/27) 3/30 Years Call

2 Year Non-Conforming ARM (2/28) 2/30 Years Call

2 Year Non-Conforming ARM Interest Only (2/28) 2/30 Years Call

Unique Products

These products are loans that are designed to meet the special needs of borrowers. The consist of loans with 40 or 50 year amortization, short term ARM's and other niche products.

Product Term Rate

50 Year Fixed Rate 50 Years Call

40 Year Fixed Rate 40 Years Call

1 Year Conforming ARM 1/30 Years Call

6 Month Conforming ARM 6 Mo/30 Yrs Call

Owner financing is a method by which buyer can borrow money from the seller. One advantage buyers get is that loan fees, mortgage insurance, points and debt ratios are not considered in this type of loans. Visit this site to get more information about the benefits for buyers with owner financing.

Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,100 with closing costs of $8,342. Your actual APR may be different depending upon these factors.