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SUGGESTED LOAN PROGRAMS

Length of time you expect
to own the home

Suggested Loan Program

1-3 Years
3/1 ARM, 1 year or 6 month ARM
3-5 Years
5/1 ARM
5-7 Years
7/1 ARM
7-10 Years
10/1 ARM, 30 or 15 year fixed
10+
30 or 15 year fixed

Fill out our easy app for a free rate quote and let one of our loan specialists help you
determine which program is best for your needs.

AVAILABLE MORTGAGE LOAN PROGRAMS


Loan Programs Advantages Disadvantages
Fixed Rate
30 Year fixed
15 Year fixed
• Fixed monthly payments over the life of the loan.
• Interest rate remains the same for the entire loan term.
• Protected if rates increase.
• Higher interest rate.
• Higher mortgage payments.
• Must refinance to improve your rate and payment.
Adjustable Rate
10/1 ARM
7/1 ARM
3/1 ARM
1 Year ARM
6 Month ARM
1 Month ARM
• Lower initial monthly payment.
• Lower payment over a shorter period of time.
• Payments may go down if rates improve.
• More risk
• Payments may change over time.
• Potential for high payments if rates go up.
Imperfect Credit
• Re-establish credit by paying mortgage on time.
• When used for debt consolidation, you may be able to reduce your monthly debt payments.
• Higher Rates.
• Terms not as favorable.
• Harder to get long term fixed loans.
• May have prepayment penalties.
Texas Equity Fixed

• Fixed & variable payments.
• Tax deductible Interest.
• Debt consolidation.
• Higher interest rates than on first mortgage.
• Once an equity loan always an equity loan.

Stated Income
• No income verification.
• Fast approval.
• Higher rates.
• Higher down payment.
No point, No fee
• No closing costs.
• Less money required to close.
• High rates.
• High payments.