The 30-year Fixed Rate loan is often considered the standard or benchmark rate from which other loan programs are judged. This is because it was the ONLY mortgage product for generations of Americans. It was created during a time in which people generally did stay in their home for 30 years at which time they owned their property “free and clear”. For this reason this program is considered the most safe and secure.

   The most important question for this credit profile is whether the borrower has the opportunity to improve their credit score over the next three years? If yes, another loan program may be a better fit for that period of time, to be followed by a refinance into a lower Fixed rate or ARM. The primary disadvantage then is that the borrower overpays a significant amount of money every year for having a higher rate for the benefit of having that rate fixed.

   The central feature of this program is the steady amortization of the loan. Amortization is a confusing financial term that is best explained non-financially. “Mort” is an ancient French word meaning “death”! A loan balance on a 30-year Fixed rate mortgage is “killed off” consistently each month according to a published scheduled. For those who are trivia fans (or are 1,500-year-old Frenchmen), the word Amortize and Mortgage share a common stem (mort) but the translation of mortgage is literally “death grip”!

• Adjustable Rate Mortgages (ARM)
• Fixed Mortgage Rate for 2 or 3 Years
• Fixed Rate for 30 years (open document)
• Fixed Mortgage Rate for 15 years
• Hard Money Loan Financing

Detailed Information (Credit Categories)

General Loan Program Descriptions

• Cash Out Loan 
• Debt and Bill Consolidation 
• Self-Employed Financing Options 
• Home Purchase Loan Financing 
• Imperfect or Bad Credit 
• Mortgage Refinance