A conventional product offering flexible terms with below market

30 year fixed rates.  Payments can be fixed interest or interest

only from three to seven years providing maximum flexibility.

Important Benefits include more disposable income with lower initial payments and rates that are fixed for an initial period of 3, 5, or 7 years. 

Convetional Fixed Rate Mortgages provide 10, 15 20, or 30 year

terms with rates that are fixed for the life of the loan.  Principal

and interest payments are amortized over the term of the loan.

Fixed Rate Mortgages are easy to budget because the payment is fixed for the life of the loan.  They are well suited for those who plan to be in their home for a long period of time and want to have a payoff plan or for those who are on a fixed income.  

Loans provided for veterans have typical terms of 15 year and

30 year fixed rates for the life of the loan. Principal and interest

payments are amortized over the life of the loan.

Government Loans provided through the VA provide for a minimum down payment which can free up your cash for other purchases or expenses.  This program also provides less stringent guidelines and requires no mortgage insurance. 

For properties located in a designated eligible rural area, Rural

Housing loans provide a 30 year fixed rate product with principal

and interest amortized over the term of the loan.

Important benefits of this loan include no down payment

requirement, no minimum cash contribution from borrowers,

no mortgage insurance, and no reserve requirements after closing.

FHA Loans offer a 15 or 30 year fixed rate loan.  Prinicipal

and interest is amortized over the term of the loan.

Benefits of the FHA loan include a minimal 3.5% down payment and flexibility with seller paid closing costs (up to 6%) and prepaids.  This program fits well with those looking to purchase their first home.