OUR LOAN PROGRAMS
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Advantages
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Other Considerations
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Fixed Rate Mortgages
- 15 and 30 Year Fixed
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- 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
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- Higher interest rate
- Higher mortgage payments
- Rate does not drop if
interest rates improve
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Adjustable Rate
Mortgages
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- 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
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- More risk
- Payments may change over
time
- Potential for high
payments if rates go up
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Stated Income
Programs - Designed for Business Owners
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- Don't need to verify
income
- Faster approval
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- Higher rates
- Higher down payment
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Imperfect Credit
Programs
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- 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
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- Higher rates
- Terms may not be as
favorable
- Harder to get long term
fixed loans
- Loans may have
prepayment penalties
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Home Equity Line of
Credit (Fixed Loan)
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- You only borrow what you
need
- Pay interest only on
what you borrow
- Flexible access to funds
- Interest may be tax
deductible
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- Rates can change (up or
down)
- Payments can change (up
or down)
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125 Program
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- Borrow in excess of
equity
- Pay off credit card debt
- Home improvements
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- Higher interest rates
- Higher payments
- Prepayment penalties
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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.
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