Loan Programs

There are hundreds of different loan programs available to you as a consumer. Depending on your specific situation, there may only be a few that actually fit your needs.

Be sure to consider your career (possible relocation), family goals (more children), financial goals (early payoff), etc. before deciding on one program or another. The time you spend understanding some basics may put you into the right program, or keep you out of the wrong one.

Fixed Rate Mortgages
The old standby fixed rate mortgage is exactly what it implies. A fixed rate of interest is paid over the term of the loan, either 10, 15, 20, or 30 years.

Adjustable Rate Mortgages
Popular alternative that starts with a lower rate and then adjusts according to the market interest rate. Initial fixed periods range from 1 to 10 years.

Balloon Mortgages
Balloon, or Call, Mortgages have a balance due at a certain future date, usually five or seven years. At that point, you either pay it off or refinance the balance, many companies offer a conversion feature.

Choosing The Best Program
Each borrower has different needs and goals...The best way to find out which is best for you is to speak with one of our mortgage professional who will help you pick the right program.