Types of Mortgage Loans
Which loan program is right for you?
A fixed-rate mortgage provides the borrower peace of mind knowing their monthly payment will be the same for the life of the loan. If you plan to stay in your home for many years and appreciate the convenience of a consistent mortgage payment regardless of the market, this could the perfect program for you!
We offer 10, 15 and 20 year fixed-rate loan products for a more accelerated payoff schedule, compared to the 30 year fixed rate. The interest rate will always remain the same, your principle and interest payment will never change, and with a variety of terms available you can pay off your mortgage at a pace that's best for your unique situation.
The HomeReady program is great for first time homebuyers and borrowers with little or no credit history. HomeReady is available with a variety of options designed to address some of the most common obstacles homebuyers face when purchasing a home.
- Options to help minimize or alternatively document cash for down payment and closing costs.
- More flexibility when qualifying for the minimum payment using your income
- Lower minimum credit score requirements than most mortgage programs