TYPES OF LOANS

Fixed Rate Mortgage

The traditional fixed-rate mortgage has a constant interest rate and monthly payments that never change.

Adjustable Rate Mortgages (ARM)

An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. This means that the monthly payments can go up or down.  We offer ARM loans with a Note Rate fixed for the first 1, 3, 5, or 7 years of the loan.  Your rate and payment will then adjust annually for the remaining loan term.

 

Construction to Permanent

A construction-to-permanent loan combines construction financing and mortgage financing into one loan. Your construction financing simply converts to a permanent mortgage when your house is finished. Since there is one loan, there is one closing.

 

Construction Loan

A construction loan is a short-term loan used to fund the building of your home.  Interest-only payments are due during construction.  At the end of the construction process, when the house is complete, you will need to apply for a new loan to pay off the construction loan.