ARMs offer lower early payments than a fixed–rate mortgage. They may also give you the opportunity to take advantage of lower rates in the future.
If you're planning on owning your home for a shorter period of time, an ARM may be a good option for you.
For an adjustable–rate mortgage, the interest rate is fixed for 5, 7 or 10 years (based on the chosen ARM product), and becomes variable for the remaining loan term, adjusting every year thereafter, based on the movement of the index. For example, a 5/1 ARM would have a fixed interest rate for the first five years and then convert to an adjustable rate, with annual adjustments for the remaining term of the loan.
5/1, 7/1 and 10/1 ARMs with 30–year term available.
Jumbo Mortgage loan amounts are available up to $2 million (or more depending on your property location).
These fixed–rate and ARM loans are available for up to 30–year terms. They are for amounts greater than conventional limits.
Jumbo Fixed (15–, 20– and 30–year terms available)
Jumbo ARMs (5/1, 7/1 and 10/1 with 30–year term available).
Even if you don't have perfect credit, you may be able to take advantage of our DreaMaker mortgages. They offer greater credit flexibility and possible assistance with closing costs.
These fixed–rate loans are available for up to 30–year terms and are used to purchase a 1– to 4–unit primary residence. Up to 95% financing is available on 1–unit residences.
Up to 30–year terms available.
FHA mortgages include a low down payment and flexibility, if you have "less than perfect" credit.
FHA fixed–rate is loan insured by the government. It is used to purchase or refinance 1– to 4–unit properties.
Created by the federal government, HARP makes it easier for eligible homeowners to refinance their homes to a lower mortgage rate. It is a unique program that allows you to refinance even if you owe more than your home is worth. With HARP, you may not need to provide as much documentation, and the approval time may be faster than a traditional refinance.
This program is available for eligible homeowners with fixed-rate or adjustable–rate mortgages.