Fixed Rate Mortgages |
40 Year Fixed
30 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
|
The monthly payment and the rate are fixed for
the life of the loan.
Excellent loan for those that need the security
and stability of the same mortgage payment for
years to come.
|
Interest
Only
Mortgages |
10/25 |
Interest only payments allow you to pay the minimum
payment or as much as you to pay towards the principle.
You may pay a substantial amount of principle
in a short period of time. In addition, principal
payment may be subject to terms of note and Deed
of Trust.
Excellent for those trying to maximize their budget
and for first-time home buyers.
|
Adjustable Rate Mortgages |
10/1 ARM
7/1 ARM
5/1 ARM
3/1 ARM |
Adjustable rate mortgage allows a lower initial
monthly payment. Rates are fixed for a set period
of time and then adjust thereafter.
ARM’s are excellent for those who know their
future time frame.
ARM’s are a great short term loans!
|
Home Equity Line of Credit |
Interest Only
Fixed Payments |
A home equity line of credit is usually a second
mortgage. The equity in your home is used for
various purposes, including debt consolidation,
home improvements, educational purposes, etc.
Interest paid on this loan may be tax deductible,
check with your accountant.
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