Call us today at 818.385.7500, or Email us winter@americancap.net.
SOME OF THE KINDS OF LOANS AVAILABLE
TO YOU - When it comes to getting a home loan, there are several
options available to you. Here are a few choices you will want to consider. After reading
about your options below, give us a call or send us an email and we'll help you decide
which choice might be best for your unique situation.
30 Year Fixed Rate Mortgage - The 30-year fixed
mortgage has an interest rate and monthly payments that never change. This may be a good
choice if you plan to stay in your home indefinately, or if you are more conservative.
15 Year Fixed Rate Mortgage - This loan is fully amortized over a 15-year period and features constant monthly
payments. It offers all the advantages of the 30-year loan, plus a lower interest rate --
and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you
commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and
voluntarily make larger payments that will pay off their loan in 15 years. This approach
is often safer than committing to a higher monthly payment, since the difference in
interest rates isn't that great.
Adjustable Rate Mortgages (ARM) - When it comes to
ARMs there's a basic rule to remember...the longer you ask the lender to charge you a
specific rate, the more expensive the loan.
3/1 ARM, 5/1 ARM, 7/1 ARM - These increasingly
popular ARMS -- also called 3/1, 5/1 or 7/1 -- can offer the best of both worlds: lower
interest rates (like ARMs) and a fixed payment for a longer period of time than most
adjustable rate loans. For example, a "5/1 loan" has a fixed monthly payment and
interest for the first five years and then turns into a traditional adjustable-rate loan,
based on then-current rates for the remaining 25 years. It's a good choice for people who
expect to move (or refinance) before or shortly after the adjustment occurs.
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Use one of our
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Loan availability is
subject to loan amount. APR and terms subject to change. Rates and APRs vary depending on
loan details, such as: points, loan amount, loan-to-value, credit, type of property, and
occupancy.
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Melgar. All rights reserved. 
