Loan Options from Lendingpoint Mortgage
Wondering which type of loan is best for you? Let the professionals at Lendingpoint Mortgage help you decide.
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.
VA Loans
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of home ownership.
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.
If this option is chosen we will discuss the advantages and risks of adjustable-rate mortgages to make an informed, concrete decision.
Yourgages
This type of loan option allows you to control your mortgage. It’s a fixed payment that doesn’t change over the life of the loan. Loan options can be 8-30 years (and every year in between).