Conventional Fixed Rate - Loans with a fixed loan amount and fixed interest rate for the term of the loan. There are many different term options available with a Conventional Fixed Rate Loan.

Click here for more details on our fixed rate loan programs.

ARM (Adjustable Rate Mortgage) - This type of loan has the interest rate fixed for the first year. After the first year, the rate can increase or decrease each year. The amount the interest rate can increase or decrease is limited on a yearly basis and also on the lifetime of the loan. In other words, in any one year during the loan term, the interest rate cannot exceed a certain pre-specified cap and has a maximum interest rate limit during the life of the loan.

Click here for more details on our ARMs loan programs.

FIRM (Fixed Initial Rate Mortgage) - Operates the same as the ARM with the exception that the loan's interest rate is fixed for the first few years and can then vary afterward. Again, the interest rate range is capped on a periodic and lifetime basis.

Affordable Housing Programs (including Fannie Mae 97, Community Home Buyers Program, etc) - Loans to first-time home buyers and low to moderate income buyers. Normally, these types of loans require a smaller down payment and fees are discounted or waived in certain circumstances. Certain requirements such as income level are applicable in order to qualify.
 



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $300,000 with closing costs of $6,000. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $450,000 with closing costs of $9,000. Your actual APR may be different depending upon these factors.