Click Here to See the Conforming Loan Limits

Length Plan to Stay in Home Recommended program
1-3 Years 1 Month Option ARM
3-5 Years 3/1 ARM, 5/1 ARM
5-7 Years 7/1 ARM
7-10 Years 10/1 ARM
10+ Years 15/30/40 year fixed

Fixed Rate Mortgages Advantages Disadvantages
40 year fixed
30 year fixed
20 year fixed
15 year fixed
Monthly payments are fixed over the life of the loan
Interest rate does not change
Protected if rates go up
Can refinance if rates go down
Higher interest rate
Higher mortgage payments
Rate does not drop if interest rates improve

Adjustable Rate Mortgages Advantages Disadvantages
10/1 ARM
7/1 ARM
3/1 ARM
1 year ARM
6 month ARM
1 month ARM
Lower initial monthly payment
Lower payment over a shorter period of time
Rates and payments may go down if rates improve
May qualify for higher loan amounts
More risk
Payments may change over time
Potential for high payments if rates go up

First Time Buyer Programs Advantages Disadvantages
Lower down payment
Easier to qualify
Sometimes you may get lower rates
May be subject to income and property value limitations
Some programs which have government subsidies may have a recapture tax if you sell the house too early.

Stated Income Programs Advantages Disadvantages
Don’t need to verify income
Faster approval
Higher rates
Higher down payment

No Point Programs Advantages Disadvantages
Lower closing costs
Less money required to close
Higher rates
Higher payments

Home Equity Line of Credit Advantages Disadvantages
You only borrow what you need
Pay interest only on what you borrow
Flexible access to funds
Interest may be tax deductible
Rates can change. The maximum interest rate is normally high.
Payments can change
Harder to refinance your first mortgage

Home Equity Fixed Loan Advantages Disadvantages
Fixed payments
Interest may be tax deductible
Higher interest rates than on 1st mortgages
Harder to refinance your first mortgage

Besides our standard loan programs, we also have a large number of unique programs to serve your needs:

  • Purchase a house with 0 down
  • Piggyback loans 80-10-10 or 80-15-5. No PMI payments even with 5% or 10% down.
  • Debt consolidation programs
  • Home Improvement loans
  • Qualify even if you may have been turned down before!