For puchasing an new home, refinancing your current home, or making home improvements, there are many mortgage options available.

Conventional Mortgage Loans:

Conventional Loans are classified either as "Conforming Loans" or "Jumbo Loans," based on the mortgage amount. Conforming Loans (Loan limit of $417,000)

Fixed Rate Loans:

These loans are available for 15, 20, or 30 years, and offer a fixed interest rate, principal and interest throughout the term of the loan. They are great for people on a fixed income, or those who plan to stay in their home for a long period. Much is determined by the buyer's credit, employment, debt to income ratio, amount of down payment, and the amount of the loan.

ARMs (Adjustable Rate Mortgages):

The interest rate on an ARM will adjust on a pre-determined basis for the length of the loan. Typically, the rate starts out lower than that of a fixed rate loan. These mortgages are great for those who move every few years. These loans come with many options.

Jumbo loans (above $417,000):

As with conforming loans, jumbo loans are available as either fixed rate or adjustable rate mortgages. Options on conventional loans include varying down payment percentages "low doc" and "no doc" loans, which require little or no documentation of the buyer's income and assets
 
VA Loans:

VA Loans are available with no down payment. Only eligible veterans may obtain VA loans.