A fixed-rate loan is one that has an

interest rate

that does not change during its term. This means that even when interest rates rise in the future, the borrower will remain unaffected. Fixed-rate mortgages can have various terms up to 30-years to suit a wide variety of needs and financial goals for every borrower. These types of loans also come with an amortization schedule that lays out all payments from your first to your last. This not only lets you anticipate when your loan will be paid off, but helps bring stability to your financial plan. Since your interest rate is fixed your mortgage payment becomes far more predictable, and being able to anticipate all future loan payment amounts can in turn help you better budget for all your short and long term financial goals. If you’re not concerned about selling in the near future and plan to live in the property being purchased for years to come, this could be an attractive option. For more information on these types of loans visit our fixed-rate page here, or contact us today for more information and let us help you decide the best type of loan for you!

While fixed-rate loan have interest rates that remain the same throughout the life of the loan,

ARM loan

fluctuate based on changes in market indexes throughout the life of the loan. These types of loans typically begin at a lower rate than their fixed-rate counterparts and remain fixed for a predetermined amount of time; after which the interest rates rise and fall based on whatever index the loan is tied to, plus a margin set by the lender. For example, a “5/25 ARM” would have a fixed interest rate for the first five years, after which the interest rate would begin to fluctuate based on a predetermined market index, plus the lender set margin.

If interest rates are expected to fall,

these types of loans could be particularly attractive given they often offer lower interest rates than their fixed rate counterparts in the beginning of their term, then may also stay low if and when interest rates due indeed fall in the future.

Often times no matter how capable a borrower is to

afford a property,

the property falls above conventional loan lending boundaries. Jumbo loans were implemented to fill this void and allow borrowers seeking higher priced properties to finance them, rather than being force to pay cash. While these are riskier to lenders since they aren’t guaranteed by Fannie Mae or Freddie Mac, they are still available to qualified borrowers per various lender guidelines. If you are in a home that is priced

above current loan limits,

visit our Jumbo Loans page here, or contact us today to see if a Jumbo Loan may be a good option for you!

Investment loans are built specifically around the needs of investors. For instance,

loans in this category

recognize that a property may be purchased in order to generate monthly revenue, and incorporate that earning potential into the qualifying process; something traditional loans are not set up to do. Investment loans are often structured to accommodate investors more rapid paced time frames and can often be funded quite rapidly in order to ensure an investor does not waste valuable time after they have found a property that suits their needs. This category also covers construction loans that may be used for various stages of property development from upgrades to a full-out build. Say an investor has purchased land and is looking to build out a property - that builder could utilize a construction loan that funds at different stages as more of the property gets finished, and even have the possibility of the loan converting to a traditional mortgage once construction is completed. For more information on various types of investment loans, visit our Investment Loans page here, or contact us today! We’d be happy to hear about your

investment needs,

and help guide you to the type of product that would be best for your next project!