Our mortage solutions include

Fixed-rate mortgages

Fixed-rate mortgages offer the most stable option for many homebuyers because monthly payments as well as the interest rate are stable. Among the benefits of a fixed-rate mortgage are:

Inflation protection

If interest rates increase, your mortgage and your mortgage payment won't be significantly affected, even if your taxes or insurance costs go up over time.

Long term planning

You know what your monthly housing expense will be for the entire term of your mortgage. In addition, this type of mortgage is preferred if you are staying in the house for a long term (5 or more years).

You can choose from a variety of repayment terms, with 15, 20 and 30 years the most common. If you choose a 30-year fixed rate home loan , your monthly payments will be the lowest, but the interest rates will be higher. On the contrary, a 15-year fixed rate mortgage will represent higher monthly payments, but you pay your loan in a shorter period of time, and benefit with lower interest rates.

Adjustable-Rate Mortgages

Adjustable-rate mortgages (ARMs) are a popular, high-risk option which involves initial lower interest rates and lower monthly payments. This allows you to be granted with a higher loan amount. However, the interest rate can change during the life of the loan, which would mean that your monthly payment would increase (or decrease). This is the ideal financial option for the following cases:

Short-term planning:

You will live in the property for a short period of time (5 years or less) and consequently aren't concerned about possible rate increases.

Better financial situation expectancy:

You are confident that your income will rise enough in the coming years to handle any increase in payments.

Lowest initial investment

The lower initial rate allows you to afford to buy the home you want.

There are several types of ARMs, such as the 10/1, 7/1, 5/1 and 3/1. The first number (10 for example) is the length of the initial period, during which the interest rate can't change. The second number (1 for example) is how often the ARM is adjusted after the initial period. So, a 10/1 ARM won't change for the first 10 years, but can change in the 11th year and again every year after that. Depending on the initial cap the change could be as high as 5 percentage points above what it was before. You also need to consider additional financial factors such as indices and margins, "caps" (how much the interest rate can increase or decrease at each adjustment period and over the life of the loan) and adjustment periods. That is why this is considered a high-risk option.

FHA and VA Loans

FHA and VA Loans are special loans backed by government agencies such as the Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA) and the Veterans Administration (VA). These mortgage s offers the borrower the ability to put as little as 3% down payment – and they can even finance "allowable" closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.

You need to fulfill some requirement to qualify for any of these loans. For example, for qualifying for a VA loan, you need to be a qualified Veteran or military person.

Other programs

We have other programs that can accomodate your loan expectations. If you have to know more about our home loan options, please contact us. Remember that we can help you decide the best financial solution depending on your particular case.