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Types of Loans

Fixed-Rate Mortgages

  • Available with 30, 20, 15, 10 and 5 year terms.
  • Low interest rate that will remain the same for the entirety of your loan, no matter how high rates rise.
  • Monthly principal and interest payments will remain the same, allowing for easy budgeting.

Adjustable Rate Mortgages

  • Currently offer 3/1, 5/1, 7/1 and 10/1 Adjustable-Rate Mortgages.
  • These loans offer a fixed interest rate for the first 3, 5, 7 or 10 years, respectively.  After the initial term expires, your interest rate can adjust up or down annually, depending on changes in market rates.
  • Typically, ARMs have a lower initial interest rate than a fixed-rate mortgage.
  • ARMs include interest rate caps, which limit how high your interest rate can rise.
  • Amortization terms up to 30 years are available.

Land Loan

  • Only available with a 15 year term and requires a 20% down payment.
  • No structures are allowed on the property at the time the loan closes.
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NMLS #363210
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