Loans

A traditional mortgage payment is comprised of both principal and interest. With an interest-only mortgage, your payment is lower because you’re not required to pay on the principal portion of the loan. An interest-only loan is best suited for people with a high net worth, those with a potential for increasing income, homeowners who plan to move in three to seven years, and real estate investors.

Whether you’re relocating for work or simply buying a new home for yourself, our loan agents are ready to help ease the financial portion of your move. We offer all the guidance and support you will need for a fast, easy, and inexpensive closing, including specialized low-interest rates, discounted fees, flexible underwriting, and reduced documentation. We’ll give you a wide range of products to choose from – including extended rate lock and float down options – and help you select the right program for you.

A personal loan is provided when consumers want to consolidate a more considerable mortgage debt or other types of debt. Personal loans are cheaper compared to short-term loans products. Borrowers may get from $5,000 to $15,000 with a maximum term of 36 months. Sometimes, a fair credit score and Social Security Number are needed to get such a loan product.

Conventional loans originated in the 1930s after the Depression and are the benchmark of all other loan types. These loans have several traits:

• Set Monthly Payments: The periodic payment never changes.
• Set Interest Rate: The interest rate never changes.
• Set Loan Term: Standard terms available.
• Self Amortization: The loan is paid off at the end of the specified term.

This type of loan is government-backed and available only to veterans. Some of the features are:

• No down payment required
• Low interest rates

A VA loan has an upfront requirement of a funding fee (FF). This funding fee is a one-time charge which can be rolled into the mortgage amount.

A mortgage with a loan amount exceeding the conforming loan limits imposed by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages from lenders. The limit is $417,000 in most parts of the U.S. but can increase to $625,000 in the highest-cost areas.

Short-term loans that are repaid in 14 days or a month. You can take a small amount - it can be a 300 dollar loan or a 100 dollar loan, but no more than $1,000. A payday loan is emergency cash that can be obtained within a day or the next business day. If you provide access to your account, the repayment amount will be automatically debited from it the day after receiving the salary.

An FHA insured loan is a Federal Housing Administration mortgage insurance backed mortgage loan which is provided by a FHA- approved lender. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford.