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Loan Programs

Conventional Fixed Rate Mortgage

This traditional fixed-rate mortgage has a constant interest rate and monthly payments that never change.

Adjustable-Rate Mortgage (ARM)

Unlike fixed rate mortgages, the interest rate on an ARM will change periodically. The initial rate of an ARM is lower than that of a fixed rate mortgage. Consequently, as the rate is not fixed it can increase over time. An ARM may still be a good option to consider if you plan to own your home for only a few years, you expect an increase in future earnings, or the prevailing interest rate for a fixed mortgage is higher than you would like.

FHA loan

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 payments. Typically, an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and allows for less-than-perfect credit.

VA Loan

A VA loan is a mortgage in the US guaranteed by the U.S. Department of Veterans Affairs (VA). The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry). There are many benefits to a VA loan including no down payment requirement, negotiable interest rate and no monthly mortgage insurance payment obligations.

Jumbo Loan

A jumbo loan is a loan that exceeds the conforming loan limit set each year by Fannie Mae and Freddie Mac. As of 2023, the limit is $715,000 for most of the US, apart from Alaska, Hawaii, Guam and the U.S. Virgin Islands where the limit is higher. Rates tend to be a bit higher on Jumbo loans because lenders generally have a higher risk.

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