PRODUCTS

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Looking for the right loan?

In helping you choose the loan to best fit your needs please ask yourself the following questions:

•	Do you expect your finances to change over the next few years?
•	Are you planning to live in this home for a long period of time?
•	Are you looking for a loan that gives you a little more cash flow?
•	Do you wish to be free of mortgage debt as your children approach college age or as you prepare for retirement?

Answering these simple questions will help you meet your short-term and long-term goals. Here is some helpful information to guide us in the right direction!

Years you plan to stay in the house		Recommended Program
1-3		6 month ARM, 1 year ARM, or 3 year ARM
3-5		5 year ARM
5-7		7 year ARM or 30 year fixed
7-10		10 year ARM, 15 year fixed or 30 year fixed
10+		15 year fixed, 30 year fixed, or 40 year fixed

Loan Program Fixed Rate Mortgage Advantages Disadvantages 40 year fixed Long term means lower payment Principal reduction long 30 year fixed Fixed payment rate 15 year fixed Pay off loan faster Fixed payment Adjustable Rate Mortgage Advantages Disadvantages 3 year ARM Lower rate than fixed loans Lower payment Fixed for 3 years 5 year ARM Lower rate than fixed loans Lower payment Fixed for 5 years 7 year ARM Lower rate than fixed loans Lower payment Fixed for 7 years 10 year ARM Lower rate than fixed loans Lower payment Fixed for 10 years Option ARM 4 payment options Lowest payment possible Adjustable rates and payments Stated Income Advantages Disadvantages Do not need to verify income Less paperwork Faster Processing Higher rates Higher payment Imperfect Credit Program Advantages Disadvantages Potential for reestablishing credit if you pay your mortgage on time Loans may have prepayments penalties When used for debt consolidation, you may be able to reduce monthly debt Terms may not be favorable Harder to get long term fixed loans Higher rates Home Equity Line of Credit Advantages Disadvantages You only borrow what you need Payments can change Pay interest only on what you borrow Rates can change Flexible access to fund Interest may be tax deductable Home Equity Fixed Loan Advantages Disadvantages Fixed payments Harder to refinance your first mortgage Interest may be tax deductable Higher interest rates than on first mortgage Interest Only Advantages Disadvantages Available in ARM and Fixed Lower payments Will not pay down principal Afford more home for lower monthly payment Available on most products

Traditional Home Mortgage recognizes that being a homeowner creates a sense of pride and accomplishment.
Let us be your Lender for Life!