FIXED RATE MORTGAGE:  We offer conforming and non-conforming fixed rate mortgages in terms of 10, 15, 20 and 30 years.  The interest rate remains constant for the life of the loan.

ADJUSTABLE RATE MORTGAGE (ARM):  A variety of Adjustable Rate Mortgages are available from a one year ARM where the interest rate adjusts annually to ARM's with an initial fixed rate for three to five years adjusting yearly thereafter. 

BALLOON MORTGAGE:  For clients who do not expect to stay in their home for a long period of time a 7/23 balloon product is available. The mortgage is amortized over 30 years with a balloon payment due at the end of seven years.  The interest rate is typically lower than a 30 year fixed rate.

VA LOANS:  Up to 100% VA financing for qualifying veterans is available.  VA loans are guaranteed by the Department of Veteran Affairs (VA).

FHA LOANS:   A mortgage that is insured by the Federal Housing Administration (FHA) and offers borrowers a low down payment and flexible qualifying guidelines.

COMMUNITY HOME BUYERS:  This is a program for first time home buyers that offers as little as 3% down.  Under certain circumstances the 3% down payment can be a gift. 

REVERSE MORTGAGE:  Homeowners over the age of 62 may be eligible for a Reverse Mortgage.  This product can provide income for someone who owns their home free and clear or has a small remaining balance. 

INTEREST ONLY LOANS:  Borrowers make interest-only payments during the early years of the loan, followed by a fully amortizing period.  As a result borrowers may qualify for a larger mortgage or direct more of their cash flow in the early years of the mortgage to investments or expenses. 

Please send mail to info@lundinmortgage.com with questions
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