Loan Terms

Loan Types

We have Fixed Rate Loans, and for those who have shorter term ownership plans or don’t qualify for the fixed rate program, we also have the Adjustable Rate Loans.

Fixed Rate Loans

Have a determined at loan closing that will not change for the duration of your loan.

Adjustable Rate Loans

Have a rate at closing that can and will change during the term of the loan. There are limitations on how frequently the rate can change; how much it can change at any given adjustment period; and have a floor and ceiling rate (lowest and highest rate you can expect for the duration of the loan)

Down Payment for Purchases

Purchase Transactions usually require a down payment of 20% in addition to closing costs. We also offer purchase programs with as little as a 5% down payment for qualified borrowers.

Government Guaranteed Loan Programs for eligible applicants that qualify, allowing financing up to 100% (of either the appraised value or purchase price).

USDA Rural Development Loan

Geared to help borrowers in the low to moderate income range that may not have the resources for a down payment or closing costs. Eligibility based on total household size and income.

Veteran’s Administration Loan

Geared for eligible service members, retirees or survivors, this loan was designed to relieve down payment requirements so the applicant or borrower only comes up with allowable closing costs.