The following is a partial list of programs many lenders offer with a brief description of the key elements.

Fixed Rate Loans
Fixed rate loans are the most common type of mortgage program. If you decide to choose this type of loan, your monthly payments for interest and principal never change. Property taxes and homeowners insurance may increase, but generally your monthly payments will be very stable. The payments are structured to pay the interest first and then repay the loan at the end of the loan term. As the loan is paid down, more of the monthly payment is applied to the principal.

Here are some examples for fixed rate loans:

30/25/20/15/10 Year Fixed Rate Loans ­
With down payments as low as 5%, these loans allow you the stability of a fixed principal/interest payment over the life of the loan.

Low Down Payment Loans-
Get a low down payment loan when you only can put down between 3% to 5% down.

No Down Payment Loans ­
These programs allow you to obtain a home loan with no down payment when you don't have the cash or want to avoid any up front costs. In some cases, financing will be allowed for closing costs.

Low Documentation Loans ­
Get a low documentation loan if you have excellent credit and want to avoid a lot of paperwork. These loans will work with as little as 5% down.

One Time Close Loans ­
This loan involves submitting one application, one closing, one set of closing costs and a protected interest rate for up to 12 months with a built-in roll down option. Use these loans if you're looking to build a home and don't want the extra cost of two closings. Purchase Money Seconds- Finance up to 100% of the sales price of your purchase utilizing a second mortgage at closing.

Adjustable Rate Mortgages
Adjustable Rate Mortgages begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home.

The interest rate changes at specified intervals (for example, every year) depending on changing market conditions. If mortgage payment will rise or fall, depending on the interest rate.

Some mortgages combine aspects of fixed and adjustable rate loans. For example, a 5 year adjustable rate loan will have a fixed interest period for five years, then convert to an adjustable interest rate for the remainder of the loan period. Depending on the condition of the market, your mortgage payment could remain the same, increase or decrease. There are a number of different types of adjustable rate mortgages Ask your mortgage professional about these and other special kinds of mortgages that fit your specific financial situation.

Basic Adjustable Rate Mortgage ­
Choose these loan products if you want to start with a low down payment or you want to purchase more home than you can afford. Put as little as 5% down. Rate adjustments every 6 months or 1 year. Basic ARM's also come with a reduced rate option that allows the borrower to start with an extra low rate in exchange for limits on refinancing and early principal reduction for the first five years.

Intermediate Adjustable Rate Mortgage ­
Great for first time buyers hoping to get into a home. The interest rate is fixed for a 3, 5, 7, or 10 year period, and will then adjust annually based on a financial index. These are ideal if you're wanting to get in on a lower monthly payment, you plan to refinance in a few years, and you want a fixed rate for a short period of time. Fixed period ARM's also come with a reduced rate option, in case you want to start with an extra low rate and have the security fixed for a number of years in exchange for limits on refinancing and early principal reduction for the first five years.

Monthly Adjustable Mortgage-
Interest rates starting at 2.95% with margins as low as 1.75! Gives borrowers flexibility to pay minimum, interest only, or principle and interest payments each month.

Additional Loan Types:
Cash-out Refinance-
Up to 95% of current value to $1,000,000 available.

Home Equity Line of Credit ­
This type of loan will combine your down payment, first mortgage and a second mortgage (equity loan or line of credit) so that you can avoid paying mortgage insurance. These loans are great if you have only 5% to 10% down, and would like to avoid paying mortgage insurance.

Stated Income Loans-
5% down, with loan amounts up to $1,000,000, 35% down loan amounts available to $2,500,000! We offer financing to self employed borrowers or special situation individuals who do not wish to provide tax returns, pay stubs or company P&L's to confirm income. We accept income as stated and only confirm employment to the extent of position and length of time.

NINA Loan-
NINA stands for "no income, no asset." This is a stated income and stated asset program. We accept income as stated and only confirm employment to the extent of position and length of time. Assets are stated only, and are never documented or verified. 5% down loans available to $1,000,000. 35% down loan amounts to $2,500,000.

Non-Conforming (Jumbo) Loan ­
These are loans that exceed Fannie Mae/Freddie Mac Guidelines. Think about obtaining a Jumbo loan when you need to borrow more than $275,000.

Investor/Rental Property-
5% down, with loan amounts up to $1,000,000 available!

Foreign National Loans-
5% down payment with loan amounts up to $1,000,000 available.

Sub Prime Financing-
Loans available for individuals with credit issues. Foreclosures and recently discharged bankruptcies accepted. Loan amounts to $1,000,000 available. Choose these loans if you're having trouble meeting the criteria for most standard home loans.