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: |
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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 |
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30 year Fixed 15 year Fixed |
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Adjustable Rate Mortgages (ARMS) |
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Balloon Mortgages |
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First Time Buyer Programs |
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No point, No fee Programs |
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Home Equity Line of Credit |
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Home Equity Fixed Loan |
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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.