Mortgage Options
Conventional Fixed Rate
- This agency-regulated-product offers a variety of loan terms from 1 year to a maximum of 30.
- The interest rate is set at the time of closing and remains constant over the entire loan term.
- Transactions with less than 20% invested into the value of the property will typically require Private Mortgage Insurance, which can be removed when certain criteria is met.
- Minimum down payment programs are available for qualified applicants.
Conventional Adjustable Rate
- This agency-regulated-product offers a variety of initial fixed-rate periods of 1 or 3 years.
- The interest rate is set at the time of closing and remains constant over the initial fixed-rate period.
- Once the fixed-rate period expires, the interest rate can increase or decrease on an annual basis.
- Transactions with less than 20% invested into the value of the property will typically require Private Mortgage Insurance, which can be removed when certain criteria is met.