This section features mortgage program information for home buyers.

In order to help you with your next home purchase, I have put together a simple review of some of the major mortgage programs.

Variable or Adjustable-Rate Mortgage
With an adjustable rate mortgage, the rate of the loan can change throughout the term of the loan. Many ARMs have a short fixed period and then become truly adjustable. The rate of the loan is based on adding points to a fixed base.

Fixed-Rate Mortgage
With this type of loan, the interest rate remains consistent throughout the term of the loan.

Balloon Loan
A balloon loan is a real estate loan where there is a lump sum due at the end of the loan. This normally encourages an individual to refinance prior to the end of the term of the loan.

Jumbo Loans
A jumbo loan is any residential or commercial loan exceeding the guidelines of Fannie Mae and Freddie Mac.

FHA Loans
An FHA loan is a loan in the United States that is insured by the Federal Housing Administration.

VA Loans
A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA was designed to offer long-term financing to American Veterans or to their surviving spouses.

In order to answer your questions and help you with your mortgage needs, I have provided this simple form. If you would like additional information regarding home financing, please fill out the following mortgage information request form. All inquiries will be responded to in a timely fashion and your information will be kept strictly confidential.