Select a Loan Program
It’s now time think about which loan program you will use if you haven’t already decided. By now, you have been working with one of our experienced mortgage consultants, and they will have a good understanding of your situation. There are many choices for your loan program; our mortgage consultants will work with you to determine best loan program that suits your needs.
The loan program that best suits you will depend on factors such as your income, credit score, desired monthly payment, desired down payment amount, and risk tolerance. There are many factors that distinguish one loan program from another including the following:
- Fixed vs. Adjustable Rate
- Term Length (5, 10, 15, 20, 30 year)
- Down Payment Required
- Credit Score Required
- Down Payment Assistance Programs
- First Time Homebuyer Programs
Some of the more common programs include:
| Government |
Conforming | Non-Conforming |
| FHA Mortgages | Fixed Rate Mortgages | Fixed Rate Mortgages |
| VA Mortgages | Variable Rate Mortgages | Variable Rate Mortgages |
| USDA Mortgages | Fannie Mae Homepath Mortgages | |
| Local Government Programs | Pinnacle Plus Mortgages |
To find out which loan best fits your needs, contact us to schedule an appointment with one of our mortgage consultants.
