Reverse Mortgages

A reverse mortgage is a special type of loan made to older homeowners to enable them to convert the..


Interest Rate

The most common buydown is the 2-1 buydown. In the past, for a buyer to secure a 2-1 buydown they would pay...


Loan Programs

Fixed Rate Mortgages - The most common type of mortgage program where your monthly payments for interest and principal never change...

Standard ARMS and the Differences - Choosing an ARM with an index that reacts quickly lets you take full advantage of falling interest rates...

Introductory Rate ARM's - Most ARM's have a low introductory rate, which is good anywhere from 1 month to as long as 10 years...

Reverse Mortgages - A Special type of loan made to older homeowners to enable them to convert the equity in their home to cash to finance other needs...

London Inter Bank - LIBOR is the rate on dollar-denominated deposits, also know as Eurodollars, traded between banks in London...

Interest Rate Buydowns - The buyer would pay points above current market points in order to pay a below market interest rate during the first two years of the loan...

Cost of Funds Index (COFI) - The ratio of the dollar amount paid in interest during the month to the average dollar amount of the funds for that month...

Graduated Payment Mortgage (GPM) - With a GPM the payments are usually fixed for one year at a time.

Choosing The Best Program - The right type of mortgage for you depends on many different factors

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