Types Of Loan Programs Fixed vs Adjustable

One of the first choices a homebuyer will need to make is whether you want a fixed-rate or an adjustable-rate mortgage loan. The bulk of loans will fit into one of these two categories, however, there is a third option that will allow you to "hybrid" the two.

An adjustable-rate mortgage, (ARM): The interest rate of the mortgage adjusts periodically based on market conditions. For example, your payment will go up if rates go up and go down if rates go down. Fixed-rate Mortgage: Unlike an adjustable-rate mortgage the interest rate is set at the time you take out the loan and will not change. Fixed-rate home loans can be 10 years, 15 years, 20 years or 30 years fixed. 30-year fixed is the most common because it allows your mortgage payment to be the lowest. Hybrid ARM: Features an initial fixed interest rate for a certain amount of time and then becomes an adjustable-rate for the remainder of the term. Standard terms are 3, 5, 7, or 10 yrs.

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Licensing

Mortgage Loan Officer
NMLS 1224692
DRE 01837151
Mortgage Broker
DRE #02029711

Contact Us

Jeanine Nucum- Mortgage Brokers
490 Chadbourne Road Suite A147
Fairfield, CA 94534

Number:
Office : (707) 368-1077
Cell : (925) 302-6422

Hours:
By appointment only

490 Chadbourne Road, Suite A147 Fairfield, CA. 94534 | O: 707-368-1077|C: 925-302-6422 | NMLS# 1595076 | GTG Financial, Inc is licensed by the California Department of Real Estate, #02029711 | Loan approval is not guaranteed and is subject to lender review of information. Loan is only approved when lender has issued approval in writing. Specified rates may not be available for all borrowers. Rates are subject to change with market conditions.