Mortgage Products

There are many loan programs to fit almost any need.

Recommended programs based on how many years you plan to live in the house

Which Program is best for me?

Here are a few things to keep in mind when selecting a loan program.

Advantages

Maximum interest deduction for taxes, sometimes easier to qualify, stable predictable payments, high loan to value, lower down payment, possible secondary financing if needed.

Disadvantages

Pay more interest over the life of the loan, higher starting interest rate, Lower debt ratio (Larger Income to qualify) Higher monthly payment.

Advantages

Lowest starting interest rates help qualify for higher loan amounts. If you plan to sell within 2-3 years. If you expect your income to increase.

Disadvantages

Periodic payment and rate increases, builds equity Slower payment increases may affect budget.

Advantages

Lower starting rate than 30 year fixed. Great for refinancing from a higher rate use when you plan a move in 5-7 years. Some are convertible to 30-yr fixed or a treasury ARM, low fees, good rates.

Disadvantages

Loan Balance Due can Change Long Term Financial Planning If You Plan to Live There Over 7 Years.

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