Conforming V.S. Jumbo
• Conforming Loans - Conforming loans have standard lending industry guidelines set by Fannie Mae and Freddie Mac. The current conforming loan limits is $400,000.00
• Jumbo Loans – Conventional loans of larger than conforming amounts are called jumbo or nonconforming loans. In the most cases, jumbo loans have slightly higher interest rates than conforming loans.  
 
Mortgage Type
Sub-prime is lending industry terminology for home financing programs that accommodate borrowers with special qualifying factors, including poor credit histories. 
• 30- Year Fixed Rate 
Interest rate remains the same for the life of the loan.
Provides protection against rising interest payments.
Predictable payments make budgeting for the future easy.  
• 15- Years Fixed Rate 
Same as 30-Year, but with slightly lower interest rates.
Principal is paid off sooner, saving substantial money in interest payments.  
• Intermediate ARMs  
Offers a fixed interest rate for a designated period (3,5,7 or 10 years) then adjusts annually.
Often referred to as 3/1, 5/1, 7/1, and 10/1 ARMs
Initial interest rate and monthly payments is lower than that of a fixed rate, so payments are more manageable on the introductory period  
• Balloon loan 
Offers fixed payments for a period of time, (usually 5 to 7 years); followed by one balloon payment of the remaining loan balance.
Interest rate is lower than that of a fixed rate loan.
A popular choice of homebuyers who are certain they will move or refinance in 5 to 7 years. 
 
Points
Many loan program s allow you to receive a discounted interest rate by paying a fee in points.
One point equals 1% of the loan amount, and the more points you can or wish to pay, the more you can discount your rate. Paying points is not a requirement, its just an option lenders offer to accommodate the immediate or long- term cost concerns of home mortgage customers. 
 
Annual Percentage Rate
APR is the total finance charge to the amount of your loan, spread over the term of the loan, expressed as a percentage. So the APR is always higher than the quoted daily interest rate. 
 
Place Your Home Mortgage Needs in Experienced Hands 
Feel confident and comfortable knowing you are working with an established lending leader. When you know the facts, the choice is clear.
We have access to over hundreds of quality lenders. Our loan consultants are all seasoned professional and have dealt with countless mortgage situations. Regardless of your credit or other situation, our diverse choices of lender enable us to deliver multiple, flexible and creative financing for anyone.  

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