Thirty-Year Fixed Rate Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans may be cheaper.  When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.  For more information about the terms of our 30-year fixed-rate mortgage click: 1421514117.secure-loancenter.com/OEM/MortgageRates.aspx

Fifteen-Year Fixed Rate Mortgage
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment.  For more information about the terms of our 15-year fixed-rate mortgage click: 1421514117.secure-loancenter.com/OEM/MortgageRates.aspx

FHA / VA / USDA Fixed Rate Mortgage
These loans are insured by the federal government and are great options for many borrower who need to obtain a mortgage with less than 20% downpayment / equity.  Since they are fixed rate loans, they are fully amortized over their term and feature constant monthly payments.  In many instances, they also provide more liberal qualifying guidelines than a traditional  year fixed rate loan.  FHA and VA also offer adjustable rate mortgage options as well. 

Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM)
These popular ARMS—also called 3/1, 5/1 or 7/1—can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. For example, a "5/1 loan" has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining term. It's a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.

Reverse Mortgages (HECM)
A reverse mortgage is a special type of home loan that lets homeowners convert a portion of their home equity into cash.  But, unlike a traditional home equity loan or second mortgage, repayment is not required until the homeowner no longer uses the home as a primary residence.  We offer primarily HUD insured reverse mortgages known as a Home Equity Conversion Mortgage or HECM.  The underlying reverse mortgage can be an adjustable or fixed rate.  There are no income or credit qualifying requirements to obtain a reverse mortgage.  You must be age 62 or older to be eligible for a reverse mortgage.  Most reverse mortgage customers own their home outright or have a relatively small mortgage balance compared to their property's value.  They can be just the right option for a senior who wants to continue living in their primary residence.

Home Equity Loan (Fixed Rate 2nd Mortgage)
A home equity loan is a fully-amortizing fixed rate 2nd mortgage with a term between 5 and 20 years.  The minimum home equity loan is $10,000 and the maximum is $200,000 depending on the equity in your property and borrower qualification.  Monthly payments remain constant for the term of the loan.

Home Equity Line of Credit (HELOC)
A home equity line of credit is a revolving line of credit that allows you to borrow, repay & re-borrow funds up to your maximum credit line during the first 10 years of your loan.  After 10 years, your loan must begin repayment and you can no longer re-borrow funds you repay.  This is a monthly adjustable rate loan tied to the Bank's prime rate.  HELOC's range from $10,000 to $200,000 depending on the equity in your property and borrower qualification.