Which Loan is Right For You?

In the past every home owner got the same loan: a 30 year fixed mortgage. Today there are many different loan programs and choosing the right one could save you hundreds of dollars on your monthly payments. Those who are risk-averse may opt to stick with traditional fixed-rate programs. Wherever you fit in, discussing your risk tolerance with a Licensed Mortgage Advisor is the best way to know your options.

How Long Do You Plan On Living In The House? We Recommend:
Not Very Long (1-3 Years) 3/1 ARM or an Interest Only Payment
A few years (3-5 Years) 5/1 ARM
At least 5 years (5-7 years) 7/1 ARM
Around 10 years ( 7-10 years) 10/1 ARM or a 30, 25, 20, 15 or 10-year fixed
A long time (10 plus years) 30, 25, 20 or 15-year fixed
Loan Programs Advantages Disadvantages
30 year Fixed
15 year Fixed
  • Monthly payments won't change
  • Interest rate Fixed
  • 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
Apply Now!
Adjustable Rate Mortgages (ARMS)
  • 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
Find An Advisor To Speak With
Balloon Mortgages
  • Lower initial monthly payment
  • Lower payment over a shorter period of time
  • Some 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 the balloon payment, refinance or exercise the conversion option
Apply Now!
First Time Buyer Programs
  • 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.
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No point, No fee Programs
  • No closing costs
  • Less money required to close
  • Higher rates
  • Higher payments
Apply Now!
Home Equity Line of Credit
  • You only borrow what you need
  • Pay interest only on what you borrow
  • Flexible access to funds
  • Interest may be tax deductible
  • Rates can change. The maximum interest rate is normally high.
  • Payments can change
  • Harder to refinance your first mortgage
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Home Equity Fixed Loan
  • Fixed payments
  • Interest may be tax deductible
  • Higher interest rates than on 1st mortgages
  • Harder to refinance your first mortgage
Apply Now!

In Addition to these standard loan programs we offer a large number of specialized loans to fit your needs please contact us for more information.

Our Licensed Professionals Know Exactly How To Help

A quick consultation will allow us to get acquainted and we can discuss your financial goals and risk tolerance. Our staff will align the loan program option(s) that best fit your goals. We can discuss the ins and outs of them all, or simply guide and advise you based on our extensive knowledge and experience in this business.

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