There are many loan programs to fit almost any need. Please call and ask which loan program best fits your situation.

What are the Basic Loan Types
There are many loan products designed to meet the borrowers individual criteria. Most of these products fall into a few basic loan types.

15-Year and 30-Year Fixed Rate
Payment and rate stay the same from start to finish plus tax.

5 and 7 Year Balloons
Lower start rate. Some of the balloon programs may be converted to an adjustable rate or a fixed rate after the 5 or 7 years, with very low fee and attractive rate.

Adjustable Rate Mortgage (ARM)
Lowest start rate Adjusts either every 6 months or every 12 months depending on program and grade and is based on the economy 6% ceiling for prime and 7% ceiling for sub-prime.

5/1 and 7/1 Fixed Rate
Rate is fixed for the first 5 or 7 years, then shifts to an adjustable rate mortgage (ARM).

2/28 and 3/27 ARM
An ARM program that is fixed for the first 2 or 3 years, then shifts into a 6 month adjustable rate mortgage. It is a sub-prime program giving you a rate lower than the sub-prime 30-year fixed, and if you have had credit problems, it allows a window of time for credit rebuilding and seasoning. You will then want to refinance this loan.