Loan Products

Fixed Rate Mortgage - 10, 15, 20, 30, 40 and 50 Year Terms

Home Equity Line of Credit ( HELOC)

Interest Only or Fully Amortized Loan Payments

No Closing Cost and No Points Loan Programs

Zero Down Purchases - 100% Financing

Adjustable Rate Mortgage (ARM)

Option Arm - Pick A Payment Programs

Jumbo Mortgages

FHA / VA Loan Programs

Construction Financing

Commercial Lending

Reverse Mortgages

Fixed Rate Mortgage

With a fixed rate mortgage, you know exactly what your principal and interest payment will be each month for the life of your loan. It won’t change because your interest rate doesn’t change.  Terms on fixed rate mortgages can be stretched into 30, 40, even 50 year terms.   The longer the term, the lower your monthly payment!   If interest rates go up, you’re protected with a fixed rate mortgage.  But, you won’t benefit if rates go down. You can always take advantage of falling rates by refinancing.

Fixed rate mortgages might be right for you if:

• Want the security of a fixed principal and interest payment.
• Think that interest rates will go up.
• Are on a fixed or limited budget.

Home Equity Line of Credit (HELOC)

When you are looking for a flexible alternative to traditional mortgage financing,  the Home Equity Line of Credit might be just right!   With this loan, you are opening a credit line, secured by the equity in your home, and you only pay the interest on the money that you use.  You can re-pay and re-use the money just like a checking account.  Terms and rates on these types of loans vary by state and lender.  Traditionally, these loans are used for financing home improvement projects, college tuition, large purchases, and lately have been used for purchasing the home or a second home.

Adjustable Rate Mortgage (ARM)

Compared to fixed rate mortgages, Adjustable Rate Mortgages (ARMs) offer a lower interest rate to start, so your monthly payments are generally lower. But, the interest rate moves up and down with the market based on an "index". Some of the more common indices include U. S. Treasury Bills, Cost of Funds Index (COFI) and the London Interbank Offered Rate (LIBOR).  Most ARMs have an initial fixed rate period where the interest rate doesn’t change followed by the rest of the loan’s lifetime period where the rate is adjusted at predetermined intervals. Many ARMs have caps that limit how much your interest rate can change per period as well as for the life of the loan. 

Also be aware that there are some very low rates ARMs that start out with "discounted" rates. These discounted rates are below the market rate and will definitely go up at the first adjustment period.

  Adjustable rate mortgages might be right for you if:

· You want more property than you can qualify for now with a fixed rate.

· You are confident your income will increase or rates will not go up much.

· You plan on selling or refinancing within seven years of buying your home.

Jumbo Mortgages

Jumbo Mortgages or "nonconforming" loans exceed the loan limits set by the two publicly chartered corporations (Fannie Mae and Freddie Mac) that buy mortgage loans from lenders. The current "conforming"  loan limit is $417,000.  If you need to borrow more than that amount, you need a jumbo mortgage. These jumbo mortgages typically have a higher interest rate than conforming mortgages.

FHA / VA

Federal Housing and Veterans Administration loan programs are available to qualified applicants.  These programs help the borrowers with down payment assistance and qualifying for a home purchase.  Please ask your loan officer if you have questions about these programs.

Construction

Construction loans are used to finance the building of a new home rather than purchase an existing home. They are usually variable-rate loans that have interest only payments during the construction phase. Draws are scheduled based on the stages of construction to pay the builders.

Many construction loans are construction-to-permanent which means that when construction is complete, the loan is converted to a normal mortgage. This has the advantage of a single loan with one closing.

 Commercial Lending

Commercial lending need not be as difficult as you might think.   Sure, the process might seem intimidating, however we have years of experience with assisting our commercial clients.  Let us show you how to leverage your equity and assets so you can continue growing your business.   Ask one of our loan officers to provide you with a free consultation over the phone.