| Product | Rate | Term of Loan | For Buyers Who |
FHA Refinance
More relaxed guidelines. Budget-friendly, fixed payments. Mortgage insurance until you reach 20% equity.
|
Fixed |
15 / 20 / 25 / 30
year term |
Plan to live in the property for more than 10 years and desire predictable payment stability. |
FHA Cash Out
More relaxed guidelines. Budget-friendly, fixed payments let the equity in your home work for you. Mortgage insurance until you reach 20% equity. Cash out amount varies with equity. |
Fixed |
15 / 20 / 25 / 30
year term |
Plan to live in property more than 10 years and desire predictable payment stability. |
FHA Purchase
More relaxed guidelines. Budget-friendly, fixed payments. Lower down payment. Mortgage insurance until you reach 20% equity. |
Fixed |
15 / 20 / 25 / 30
year term |
First time home buyers who need relaxed guidelines and a lower down payment. |
Conforming
More relaxed guidelines. Budget-friendly fixed payments. Mortgage insurance until you reach 20% equity. |
Fixed |
15 / 20 / 25 / 30
year term |
Plan to live in property more than 10 years and desire predictable payment stability. |
Conforming
Good for short-term mortgage plans. Interest rate is fixed for the first 5 years. The interest rate is adjusted every year thereafter. |
Adjustable Rate (ARM) |
5 / 1 Adjustable
Rate |
Plan to live in property less than 5 years and desire initial payment stability, but can accept later changes. |
