VA Loans

Loan programs available to those who qualify by military service.

Second Mortgages and Home Equity Lines of Credit

Loan programs to take advantage of the equity in your home.

Fixed Rate Mortgages

A loan program where your monthly principal and interest payments never change.

Adjustable Rate Mortgages (ARMs)

These loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home.

Introductory Rate ARMs

Most adjustable rate loans (ARMs) have a low introductory rate or start rate, some times as much as 5% below the current market rate of a fixed loan.

Standard ARMs and Differences

Various types of adjustable rate mortgages.

6-Month Certificate of Deposit (CD) ARM: This program has a maximum interest rate adjustment of 1% every six months. The 6-month Certificate of Deposit (CD) index is generally considered to react quickly to changes in the market.

1-Year Treasury Spot ARM: This program has a maximum interest rate adjustment of 2% every 12 months. The 1-Year Treasury Spot index generally reacts more slowly than the CD index, but more quickly than the Treasury Average index.

6-Month Treasury Average ARM: This program has a maximum interest rate adjustment of 1% every six months. The Treasury Average index generally reacts more slowly in fluctuating markets so adjustments in the ARM interest rate will lag behind some other market indicators.

12-Month Treasury Average ARM: This program has a maximum interest rate adjustment of 2% every 12 months. The Treasury Average Index generally reacts more slowly in fluctuating markets so adjustments in the ARM interest rate will lag behind some other market indicators.

COFI Index

This index is used to determine the interest rate for some types of ARMs.

LIBOR Index

This index is used to determine the interest rate for some types of ARMs.

Balloon Mortgages

Balloon loans are short-term mortgages that have some features of a fixed rate mortgage.

Interest Only Loans

“Interest only" products are an easy way to save money and a very popular alternative to traditional fixed rates but they are not without risk. An "Interest Only" loan can offer consumers greater purchasing power, increased cash flow and a number of other benefits.

Graduated Payment Mortgages (GPMs)

The GPM is an alternative to the conventional adjustable rate mortgage, and has a fixed note rate and payment schedule.

Interest Rate Buydowns

The most common buy down is the 2-1 buy down. In the past, for a buyer to secure a 2-1 buy down they would pay 3 points above current market points in order to pay a below market interest rate during the first two years of the loan. At the end of the two years they would then pay the old market rate for the remaining term.

Reverse Mortgages

A reverse mortgage is a special type of loan made to older homeowners to enable them to convert the equity in their home into cash.

Commercial Loans

Loan programs for commercial and investment properties.