Fixed rate loans have traditionally been the most popular of mortgage loan products.  They feature a fixed principal and interest payment for the life of the loan.  Amortization schedules may be between 10 and 50 years.  Fixed rate loans may be best suited for those on a fixed budget with limited tolerance for changes in payment amounts.

Adjustable rate mortgages have been around for more than 30 years and come in a wide variety of mortgage product lines.  Such loans place some of the burden of interest rate risk on the borrower.  Adjustable rate loans typically provide for a spread over a published index rate.  Look for maximum rate ceilings annually and over the life of the loan.  Advantages for the borrower include a lower rate at inception (compared to most fixed rate loans) and the ability to reduce payments when interest rate indexes fall.  Those borrowers on a fixed budget with no tolerance for higher payments may find adjustable rate loans unsuitable.

Examples of adjustable rate mortgages include:

2/28 ARM (2 years at a fixed rate of interest, then adjusting according to the loan terms.)

10/1 ARM (10 years at a fixed rate of interest, then adjusting according to the loan terms.)

Pay Option ARM (3-4 payment options to choose from monthly) 
1) a minimum pay rate payment* (typically a 1.99% - 4% rate of interest)
2) an interest only payment
3) a fully amortized payment (principle and interest)

*paying the minimum pay rate payment, leads to negative amortization

The "No Doc" loan has become increasingly popular.  It provides borrowers with good credit scores the ability to obtain financing with minimum documentation.  "No Doc" loans may be fixed or adjustable and rates are competitive for those loan products requiring complete documentation.

Investor loans are essentially loans to purchase (or refinance) one to four family units for rental purposes.  Rates are typically higher than those loans for primary and secondary homes.  Terms may also be somewhat less liveral, but can still be attractive to the borrower.  Investor loans are available in fixed rate products, ARMs, and even "No Doc" products.

Building your dream home?  We can help with a construction loan which will provide funds during the construction period and then convert to a permanent loan.  You can lock into a rate up-front and choose from a variety of permanent loan products.

There are a number of programs available to first time home buyers.  Some may include help with the down payment.  Let us help you find the program best suited for your needs.

Down Payment Assistance may be available in Sarasota and Manatee Counties through specific government programs.  The eligibility requirements are precise and are subject to change.  We specialize in knowing these requirements and knowing which lenders will accept these types of funds.

Sarasota County Down Payment Assistance

Manatee County Down Payment Assistance - Click on departments then Neighborhood Services

City of Bradenton Down Payment Assistance

Unlock the borrowing power of your home with a home equity loan or a line of credit.  We can offer you a number of products to suit your needs.  Use the funds to repay high-cost credit card debt, purchase a boat or new car, pay for your children's college expenses, or any other reason you can think of!  As an added bonus, interest expense on borrowings may be tax deductible.

Those loans not secured by one to four-family residential properties are broadly defined as commercial loans.  Included are owner-occupied commercial buildings, multi-family apartment units, commercial rentals, acquisition and development loans.  Loan decisions are largely based on the income stream produced by the property involved.