-- Search -- Apply Now PreQualification Rate Watch Mortgage Rates Tools Contact Us About Us	You Can Expect Fast, Friendly Service With That Special Touch of Compassion. Let Us Take Care of You and All Your Lending Needs. Nasdaq  2,317.84   +53.62    Dow Jones  11,377.62   +246.54    S&P 500  1,260.75   +26.38 September 7, 2008
	ARM's 1, 3, 5, 7, 10 Year Adjustable Rate Loan Programs An Adjustable Rate Mortgage (ARM) is a mortgage loan that is most widely known for its low starting interest rate (when compared to the 30 & 15 year mortgage loans). This 'low' introductory rate is used to calculate the mortgage payment for a specified period of time. Once this introductory period is over, the interest rate is adjusted periodically based on a preselected index. The most commonly used index is the yield on the one-year Treasury Bill. The new interest rate is determined by adding this index to a set margin (which is determined by the lender). Although there are a variety of adjustable rate mortgage programs available, the most common program is the One Year Adjustable Mortgage (one Year ARM). The interest rate on the one year ARM is adjusted once each Year, for 30 years. APR's on variable rate loans are subject to increase but may decrease from year-to-year, the borrower should be prepared to handle an increase in his/her monthly payment (should the index rate increase). Jumbo Loan Programs A jumbo mortgage is a mortgage loan which is larger than the limits set by Fannie Mae and Freddie Mac ($322,700 as of 1/1/2003). Since these two agencies will not purchase these types of loans, they usually carry a higher interest rate (to enhance their value and marketability to investors). 3 EASY Steps to Getting Your Loan STEP 1. Complete our easy step by step prequalification form by telling us about yourself, about your home, and the amount that you request. GET STARTED TODAY! No Cost. No Obligation. STEP 2. Once you have submitted your application. You will be assigned a personal loan consultant who will be your single point of contact for the entire process, all the way through closing. STEP 3. Once your loan is approved, you will be notified by us within 24 to 48 hours.
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