Loan Options
30-Year Fixed-Rate Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. A 30-year fixed-rate loan may be a good option if you plan on staying in your home for years to come.
15-Year Fixed-Rate Mortgages
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate and you’ll own your home twice as fast.
Adjustable-Rate Mortgages (ARM)
An ARM is an Adjustable Rate Mortgage. Unlike fixed-rate mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an ARM will change periodically.
FHA Loans
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.
VA Loans
A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).
Jumbo Loans
A jumbo loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2024, the limit is $726,200 for most of the U.S., except for high-cost areas like Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $1,089,300. Rates tend to be slightly higher on jumbo loans because lenders generally face a higher level of risk
FHA 203K Loans
An FHA 203K loan is a loan backed by the federal government and given to buyers who want to renovate a home. An FHA 203K loan allows the borrower to finance the home, plus provides financing to do the necessary renovations to the home.
USDA Home Loans
The United States Department of Agriculture (USDA) gives borrowers the opportunity to own a home outside of the city limits. There are several benefits of a USDA loan, including flexible credit underwriting requirements and no down payment required.
Reverse Mortgage Loan
A reverse mortgage is a loan for seniors age 62 and older. HECM reverse mortgage loan are insured by the Federal Housing Administration (FHA) and allow homeowners to convert their home equity into cash with no monthly mortgage payments.
