Types of Mortgages

There are many different types of mortgage loans and searching for the right product can be confusing. That’s why our lenders take pride in providing education and guidance to achieve the individual goals of each of our customers.

Loan Program

Conventional Fixed Rate*

Why Select This Loan Type?

Plan to keep home for more than 5 years.

Loan Features

  • Fixed interest rate.
  • 15, 20 or 30 year term.
  • Lower monthly payment.
  • Low down payment.

Adjustable Rate (ARM)*

Why Select This Loan Type?

Plan to keep home for a short period of time.

Loan Features

  • Adjustable rate - 3/1 or 5/1.
  • 15, 20 or 30 year term.

Reverse Mortgages*

Why Select This Loan Type?

Use equity in your home to supplement monthly income or provide a lump sum for an immediate need.

Loan Features

  • Home ownership remains in the owner’s name.
  • Loan does not require repayment until last owner/borrower passes away or moves out of home  permanently.

Cash-Out Refinance*

Why Select This Loan Type?

Cash-out some equity in current home, but prefer not to have a second mortgage payment.

Funds can be used for a variety of purposes; debt consolidation, vacation, etc...

Loan Features

  • Pay off current mortgage(s) and/or other debt.
  • 15, 20 or 30 year term.
  • Fixed and adjustable rate loans.

Government Loans*
VA

Why Select This Loan Type?

For qualified veterans: Purchase and refinance loans available with no private mortgage insurance.

Loan Features

  • Fixed interest rate.
  • 15, 20,30 year term.
  • No down payment.

Government Loans* FNMA

Why Select This Loan Type?

Great fixed rate options with a variety of  loan products.

Loan Features

  • Fixed interest rate.
  • 15, 20 or 30 year term.
  • Low down payment.

Loan Program

Why Select This Loan Type?

Loan Features

Conventional Fixed Rate*

Plan to keep home for more than 5 years.

  • Fixed interest rate.
  • 15, 20 or 30 year term.
  • Lower monthly payment.
  • Low down payment.

Adjustable Rate (ARM)*

Plan to keep home for a short period of time.

  • Adjustable rate - 3/1 or 5/1.
  • 15, 20 or 30 year term.

Reverse Mortgages*

Use equity in your home to supplement monthly income or provide a lump sum for an immediate need.

  • Home ownership remains in the owner’s name.
  • Loan does not require repayment until last owner/borrower passes away or moves out of home  permanently.

Cash-Out Refinance*

Cash-out some equity in current home, but prefer not to have a second mortgage payment.

Funds can be used for a variety of purposes; debt consolidation, vacation, etc...

  • Pay off current mortgage(s) and/or other debt.
  • 15, 20 or 30 year term.
  • Fixed and adjustable rate loans.

Government Loans*
VA

For qualified veterans: Purchase and refinance loans available with no private mortgage insurance.

  • Fixed interest rate.
  • 15, 20,30 year term.
  • No down payment.

Government Loans* 
FNMA

Great fixed rate options with a variety of  loan products.

  • Fixed interest rate.
  • 15, 20 or 30 year term.
  • Low down payment.

*All loans are subject to credit approval.