Below are a variety of mortgage programs for a wide range of mortgage needs. Various lender conditions apply to all programs, depending on the size of the loan, down payment, loan-to-value, credit history and other conditions.

Fixed Rate Mortgages

Monthly principal and interest payments do not change over the term of the loan, this means your mortgage expenses are easily anticipated. If you believe interest rates are going to increase and you will own your home for a very long time, this may be the best option for you.  Apply Here!

Adjustable rate mortgages (ARM)

The interest rate on this loan will be fixed for a stated period of time and will then become adjustable for the remainder of the loan. For example, a 3-year fixed (30-year) loan would have a fixed interest rate for the first three years and then convert to an adjustable rate for the remaining 27 years.

This adjustment is based on changes in an index rate, and will take place according to schedule (usually once a year). Your interest rate and monthly payment will change based on changes in your index. The most common indices are the Treasury Bill, Certificate of Deposit (CD), LIBOR and COFI.

Adjustable rate loans have more risk due to the possibility that the interest rate could increase. ARM's have a lower interest rate and payment during the initial fixed period. These loans are of particular benefit to borrowers that plan to either sell the property or refinance before reaching the adjustable period.

If you believe you will own your home for less than 5 years, this may be the best option for you.  Apply Here!

Balloon mortgages

A balloon mortgage has uniform monthly payments up to a predetermined date and a lump sum or "balloon" payment due at the end of the loan period to complete the payoff of the loan. Because of the structure of the payment schedule, the uniform monthly payments tend to be lower than those for many other types of fixed rate or standard adjustable rate products. Balloon mortgages usually have a predetermined refinance option that you may use. A balloon loan might be attractive to someone who planned on selling his or her home before the balloon payment was due.

When qualifying for this type of loan, the lender will not require you to provide documentation of your income, such as tax returns. This means that there is no verification of your income, but you must state the source of your income. Individuals likely to be interested in a stated income loan are typically self-employed or individuals who write-off a large portion of their income such as contractors, waiters & waitresses.

If you have difficulty documenting your income this may be the best option for you.  Apply Here!

Combination Loans

A combination loan is a loan that has a first and second mortgage combined. Usually, this is used when you do not have the usual 10 to 20 percent for a down payment. For example, one type of combination loan is an "80/20." On this loan, you get a first mortgage for 80 percent of the loan amount, and a second mortgage at the same time for the remainder of the loan balance.

If you have difficulty with a standard downpayment this may be the best option for you.  Apply Here!

Home equity loans

A home equity loan enables you to borrow money in a lump sum against the equity (the value of your home minus what you owe) you have built up in your home. This loan is subordinate to the existing first mortgage. Buyers commonly use a second mortgage to keep their first mortgage in the conforming range (which keeps the rate lower) and to avoid PMI. Home equity loans are often used to pay off credit card debt, pay tuition or to make major renovations to a home.

If you want to get cash out  this may be the best option for you.  Apply Here!

Arizona Mortgage Loan Programs