Flexibility in Financing. Options that meet your needs.
We understand each home purchase requires flexibility in financing and we're here to assist with a number of different loan options to meet your financial needs. Our mortgage program options include:
Fixed Rate Mortgage
With a fixed rate mortgage the rate and terms are determined and agreed upon in advance. The mortgage has a fixed interest rate for the entire term of the loan. The benefit of a fixed-rate mortgage is that the homeowner will not have to contend with varying loan payment amounts that fluctuate with interest rate movements.
Adjustable Rate Mortgage (ARM)
A type of mortgage in which the interest rate paid on the outstanding balance varies according to a specific benchmark. The initial interest rate is normally fixed for a period of time after which it is reset periodically. The interest rate paid by the borrower will be based on a benchmark plus an additional spread, called an ARM margin. An adjustable rate mortgage is also known as a "variable-rate mortgage."
A conforming mortgage is one that Fannie Mae and Freddie Mac are willing to buy because it conforms to the dollar limits set by these two companies. Since the U.S. government supports these two government-sponsored enterprises they tend to have lower borrowing costs than private companies and can offer lower interest rates on mortgages that conform.
A jumbo mortgage is a loan amount above conventional conforming loan limits. The average interest rates on jumbo mortgages are typically higher than conforming mortgages.