What kind of loan program is best for you?
Should you get a fixed-rate or adjustable rate mortgage? A conventional or a government ? Foreign National? Non-Qm? Investment? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer, and every client is different.
Fixed Rate Mortgages (FRM)
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.
Adjustable Rate Mortgages (ARM)
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment and lower credit score with some derogatory situations.
Foreign National & ITIN
Loans for not United States citizens, they can obtain mortgage loans in this country (FRM or (ARM). This group of people will not qualify for Fannie, Freddie and FHA mortgages