Understanding Mortgages - Mortgage Options

    There are several different philosophies about what types of mortgages are best for customers.  There are those that only believe in fixed rate mortgages, others that believe adjustable rates are the best loans, and others that only sell Option Arms are programs of choice.  Some believe in maxing out your homes equity to invest it while others believe in becoming debt free as soon as possible. 

    Many times unprofessional loan officers just sell a program that makes them the most money even though it is not a good program for the client.  A good example is all of the Option Arms that were sold to people who should not have received them.  The Option Arm was meant for the borrower who has times of low to no income then have months of really good income.  For example; actors or salespeople.  It was also meant for the wealthy who at times would like more cash flow then on some of the next payments make extra payments to offset the deferred interest. 

    Each client has their own needs, goals, and risk tolerance.  During my application appointment I will review your online loan application, ask question regarding your life and investment goals, then suggest a mortgage that fits your needs.  I will always make sure you understand all of the details about your mortgage so that you will not have any surprises at closing or years down the road.  In this section, my intention is to give you the information that will help you understand the benefits and drawbacks to the variety of programs and options out there.  If you ever have any questions please contact me through the website or by phone.