There are many different kinds of home loans, each with its own features and advantages. This section describes some of the major types.
Depending on your credit history, your income, how much you need to borrow, and what you plan to use the money for, you may find that you qualify for all of them or only a few of them. Chances are that whatever your circumstances, the experts at Group One Mortgage can help you find the financing you need.
Why talk to a mortgage expert?
The information you’ll find on our website – or anyone else’s website (or brochure or newspaper ad or billboard) – is based on averages. There’s no other way to report it.
But your situation is unique, and your mortgage should be, too. Call Claudine at Group One Mortgage now at 561-745-1205 for a thorough analysis of your circumstances and our recommendations for which home loans will work best for you.
Types of Home Mortgage Loan
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Loan Type |
Loan Description |
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Fixed Rate Refinance |
Refinancing to a fixed-rate mortgage is a good idea if interest rates are significantly lower now… |
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Adjustable Rate Refinance |
ARMs are attractive to some homeowners because they traditionally have a lower initial interest rate than fixed-rate loans. |
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FHA Refinance |
The Federal Housing Administration offers a number of federally insured mortgage programs to American citizens wanting to purchase or refinance a home. |
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Cash Out Refinance |
Cash-out refinance mortgages involve getting a new, larger mortgage to get extra cash to pay off debt… |
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No Closing Cost Refinance |
No-Closing Cost Refinance loans usually require the borrower to pay less in upfront fees relative to the other refinancing options |
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DU Refi Plus™ |
DU Refi Plus™ was designed to reignite the mortgage industry by simplifying the refinance process for millions of Americans |
Home Mortgage Loans
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Loan Type |
Loan Description |
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Fixed Rate Mortgage |
A fixed-rate mortgage is a loan in which the interest rate on the note remains constant throughout the life of the loan… |
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FHA Mortgage Loans |
FHA Mortgage programs are great options for those borrowers who can’t meet some of the strict lending criteria of conventional loans… |
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Jumbo Mortgage Loans |
Cash-out refinance mortgages involve getting a new, larger mortgage to get extra cash to pay off debt… |
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Adjustable Rate Mortgage |
An adjustable rate mortgage (ARM) has an interest rate that is fixed for the first several years of the loan… |
*Information courtesy of Kim Davis and Claudine Porikos, Group One Mortgage, Jupiter Florida
For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!
I remember back in the day we use to advertise that we (not necessarily me since I am a real estate agent, but my company’s mortgage division) offered 300 different mortgage products. Today, we are going back to the basics: Conventional, VA, FHA, maybe some ARMs, and maybe pay-option arms but I see less of the creative forms of financing in the NJ market. Home Values in our market are projected to decline another 5-8%, but with rates increasing slightly in late December, buyers are at the same monthly mortgage payment regardless of the projected decline. I expect to see an uptick in the market 3rd week of January. Your area of FL looks amazing. Talk to you soon!