home sweet home equity

OUR LOAN PROGRAMS

Advantages Other Considerations
Fixed Rate Mortgages - 15 and 30 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
  • 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
  • Ideal loan if planning to sell within 3 years
  • More risk
  • Payments may change over time
  • Potential for high payments if rates go up
Stated Income Programs - Designed for Business Owners
  • Don't need to verify income
  • Faster approval
  • Higher rates
  • Higher down payment
Imperfect Credit Programs
  • Potential for reestablishing credit if you maintain your mortgage payments
  • When used for debt consolidation, you will be able to reduce your monthly debt payment
  • Higher rates
  • Terms may not be as favorable
  • Harder to get long term fixed loans
  • Loans may have prepayment penalties
Home Equity Line of Credit (Fixed Loan)
  • 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 (up or down)
  • Payments can change (up or down)
125 Program
  • Borrow in excess of equity
  • Pay off credit card debt
  • Home improvements
  • Higher interest rates
  • Higher payments
  • Prepayment penalties
Besides our standard loan programs, we also have a large number of unique programs to serve your needs. Let us show you how to reach your financial goals.
 
© 2009 Home Sweet Home Equity