Fixed Rate Mortgage

Fixed Rate Mortgages are home loans with steady interest rates and monthly payments that do not change throughout the life of the loan. The major benefit to having a fixed rate mortgage is that they are structured in a way that payments are the same every month.

Common Fixed Rate Mortgages Include:

* 30-Year Fixed Rate Mortgage

* Biweekly Mortgage

* Convertible Mortgages

* Balloon Mortgages

* Interest-Only Mortgage Loan

Fixed Rate Mortgage - Quick Application

Adjustable Rate Mortgage

Adjustable rate or variable rate mortgage loans have interest rates and monthly payments that fluctuate. With Adjustable Rate Mortgages (ARMs), periodic changes relating to a defined index are made to the interest rate.

Common Adjustable Rate Mortgages include:

* Negatively Amortizing Loans

* Option ARMs

* Hybrid Loans

* Fixed-Period ARMs

* Two-Step Mortgage

* Convertible ARMs

* Graduated Payment Mortgages (GPMs)

* Buydown Mortgage

Adjustable Rate Mortgage - Quick Application

Interest Only Mortgage Loans (Non-Conforming)

Interest Only Mortgage Loans (Non-Conforming) are loans that require the borrower to pay only interest on the principle in monthly installments for a fixed period. This period usually lasts for a limited time, after which the borrower has a few options. They can either start paying installments that include both interest and principle, refinance or pay off the entire balance of the mortgage.

Common Interest Only Mortgage Loans (Non-Conforming) include:

* ARMs

* Fixed Rate Mortgage

Interest Only Mortgage - Quick Application

Jumbo Loan

Jumbo loans, also known as non-conforming loans, are loans that exceed the maximum loan amount established by the Federal National Mortgage Association (Fannie Mae and Freddie Mac). They often have higher interest rates than conforming loans, but the difference may vary depending on the economy.

Jumbo Loan Mortgage - Quick Application

Second Mortgage

A second mortgage is a loan taken after the first mortgage and is secured against the same assets as the first, the value of the property and home. Based on the amount of equity, interest or ownership for a property; the loan amount is the difference between the current value of a property and the amount that is owed on it.

Second Mortgages are a great way for homeowners to use their homes as collateral and borrow the money they need. These loans were once very restricted and viewed as proof of financial woes. This is no longer the case and there is a wide selection of loans available to fit your specific needs.

Common Reasons for a Second Mortgage:

* Home Improvement Financing

* Tuition Fees

* Debt Consolidation

* Emergencies

Second mortgages normally carry a higher interest rate than a first mortgage. If interest rates are low, then refinancing may be the better option. Still, despite higher interest rates, second mortgages may save money in the long run compared to refinancing because of low transaction costs.

Types of Second Mortgages:

* Traditional Mortgage

* Home Equity Loan

* Home Equity Line of Credit

Second Mortgage - Quick Application

Subprime Mortgage

Subprime mortgage loans are for borrowers with bad credit and usually carry higher interest rates. Subprime loans also come with prepayment penalties and/or balloon payments. It is important to educate yourself when it comes to subprime mortgages, especially if you have shaky credit. Be sure to investigate your interest rates and determine what you can afford. Certain subprime lenders thrive on naïve borrowers, so it is important that you are not one of them.

Subprime Mortgage - Quick Application

Hybrid Loan

Hybrid, or combined loans, consists of a combination of fixed and ARM loans to varying degrees. They begin with an initial fixed rate period and adjust to ARM after the set fixed payment period expires.

Common Hybrid Loans include:

* Fixed Period ARMs

* Two-Step Mortgage

* Convertible ARMs

* Graduated Payment Mortgages (GPMs)

* Buydown Mortgage

Hybird Mortgage - Quick Application

100% Mortgage

100% financing mortgage loans allow you to buy or refinance a home with almost no money down. This is an excellent plan if you have great credit but limited amounts of funds to commit to a down payment. The mortgage will usually come in 2 parts. First, a mortgage for 80% of the home's cost followed by a piggyback loan, or second mortgage, for the remaining 20%. The first mortgage can either best fixed or adjustable. The second mortgage is typically a home equity line of credit.

100% Mortgage Refinance - Quick Application