Real Estate Mortgage Programs
To help you with your next home purchase, we have put together a simple review of some of the major mortgage programs:
Conventional Fixed-Rate Real Estate Mortgage
With this type of loan, the interest rate remains consistent throughout the term of the loan.
Conventional Variable or Adjustable-Rate Real Estate Mortgage
With an adjustable-rate mortgage, the rate of the loan can change throughout the term of the loan. Many ARMs have a short fixed period and then become truly adjustable. The loan rate is based on adding points to a fixed base.
FHA Real Estate Loans
An FHA loan is a loan in the United States that is insured by the Federal Housing Administration.
VA Real Estate Loans
A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA was designed to offer long-term financing to American Veterans or their surviving spouses.
Jumbo Real Estate Loans
A jumbo loan is any residential or commercial loan exceeding the guidelines of Fannie Mae and Freddie Mac.
Balloon Real Estate Loan
A balloon loan is a real estate loan where there is a lump sum due at the end of the loan. This normally encourages an individual to refinance prior to the end of the term of the loan.
If you are looking to make a real estate purchase in Southeastern or Southcentral Wisconsin, we are here to help. Please use this simple real estate request form. Whether you are buying or selling, you have come to the right place. Please note all of your information will be kept strictly confidential and will only be used to provide you with outstanding real estate services.