With a fixed rate loan, your monthly principal and interest statement remains the same for the life of the loan.
An adjustable rate loan is beneficial when rates are going higher or when you intend to stay in your home less than 10 years. You can usually lock into a lower monthly rate and lower monthly payments with an adjustable rate loan.
Refinance to lower monthly payments and/or interest on an existing mortgage combine two mortgages into one mortgage with a lower monthly payment.
A Bridge Loan helps you cover your down payment until you sell your current home.
Applying for your first mortgage can be overwhelming and confusing. We have special programs for the First Time Home Buyer to make the process easier to receive a new loan.
For both programs these guidelines are constantly changing. Please contact our Mortgage Professionals regarding changes to the guidelines.
Please use our calculator to get an idea about your monthly mortgage payment and to generate an amortization schedule.
For our customers who have filed a Chapter 7 Bankruptcy, we are often able to
secure a mortgage immediately after discharge, provided you have been current on your
mortgage at least one year.
After the filing of a Chapter 13 Debt Reorganization we usually need one year of
current payments on the mortgage to refinance.
In some cases, New Home Loans are available immediately after discharge of a
Chapter 7 Bankruptcy.
In a Chapter 13 Debt Reorganization usually the case must be confirmed.