Conforming fixed rate loans have a term from 10 to 40 years over which the loan is amortized.  The interest rate is fixed for the appropriate term and thus the Principal and Interest portion of your mortgage payment remain the same over the life of the loan.  The most common term is 30 years.

Rates shown are for display purposes only.  Actual Rates may vary.

Conforming (Maximum loan limit of $417,000) and Non-conforming (Exceeding $417,000) Adjustable Rate Mortgages (ARMs) are long term loans whose interest rate adjusts according to the adjustment period, index, margin and cap parameters as determined by the lender.  The index is usually based on the U. S. Federal One Year Treasury Bond (Federal T-bill) or the London Interbank Offered Rate (LIBOR). 

ARMs can adjust every 6 or 12 months, or stay fixed for a period of 3 (3/1), 5 (5/1), 7 (7/1) or 10 (10/1) years and then adjust every 6 or 12 months thereafter.  The latter are known as hybrid ARMs, because they are fixed for a determinate period and then automatically change to an adjustable rate for the remainder of the loan term.

Other ARM products include Balloon products where the interest rate is fixed for a 5 or 7 year term and then the balance of the mortgage becomes due at the end of the fixed term.  It is expected that the borrower will refinance within the fixed term. 

Example is a conforming 3/1 Hybrid ARM that has a fixed rate for 3 years and then adjusts yearly from years 4 through 30. 

Rates shown are for display purposes only.  Actual rates may vary.

VA loans are available to active or retired military veterans.  These loans are guaranteed by the Veterans Administration.  The maximum loan limit is $417,000.  Many fixed rate and ARM (Adjustable Rate Mortgage) products are available under this program.  100% financing guaranteed by the VA is one of many benefits to the veteran.  Additional documentation is required including Certificate of Eligibility.

We encourage all veterans to compare the benefits of a VA Loan to other products before committing.

Example shown is for a VA 30 Year Fixed Rate Mortgage. 

Rates shown are for display purposes only.  Actual rates may vary.

Affordable financing programs made possible through Fannie Mae My Community, Freddie Mac Home Possible, lender, government and non-profit organizations with low down payments and down payment assistance to First Time Home Buyers and low-income buyers.

Income and/or asset, and/or residency limitations may apply.

Jumbo Loans are those loans that exceed the conforming loan limit of $417,000.  Jumbo loans can take the same form as conforming loans.  Products available include fixed rate loans from 10 to 40 year fixed terms, ARM, Hybrid ARMs and Interest Only.

For those borrowers who have less than perfect credit, we can offer fixed rate and adjustable rate mortgages.  The program, term and rate available are determined based on credit score, down payment available for the transaction, reserve assets, employment and other factors.

Fixed Rate Second Mortgages can be fixed for a 5, 10, 15 or 30 year term.  Some fixed rate seconds are amortized over 30 years to make the monthly payments lower but are due in 15 years (30 due in 15).  Some limited Adjustable Rate Seconds are also available.

HELOCs are Home Equity Lines of Credit.  They function similar to a Credit Card.  These credit lines are secured by your home.  They generally have an interest rate which is tied to the Prime Rate and adjusts monthly.  The amount that you can borrow depends on the equity you have established in your home.        

Interest only loans are available in conforming (maximum loan limit $417,000) and non-conforming (exceeding $417,000) products.  There are fixed rate, adjustable rate and first and second mortgage and HELOC  products that have a defined interest only period available.  Usually the interest only portion of the loan is fixed for 5, 10 or 15 years.  After this interest only term, the balance is re-amortized to reflect a principal and interest payment for the remaining term of the mortgage.