Fixed Rate

Fixed-rate mortgages are the most common mortgage for first-time homebuyers because they're stable. Typically the monthly mortgage payment remains the same for the entire term of the loan – whether it's a 15-year, 20-year, or 30-year mortgage – allowing for predictability in your monthly housing costs. Contact The Mortgage Florida today for a free quote.

Adjustable Rate

An adjustable rate mortgage, often known as simply as an ARM, is a loan product that allows a borrower to determine monthly repayments based on changing interest rates. Whereas with a fixed loan, or conventional loan, a borrower “locks in” to a specific interest rate and pays that rate for the life of the loan unless he or she decide to refinance, with an adjustable rate mortgage, the borrower is in a sense at the whim of the national housing rates. Contact The Mortgage Florida today for a free quote.

FHA Loans

An FHA loan is a loan insured against default by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay. Because of this guarantee, lenders are willing to make large mortgage loans. Contact The Mortgage Florida today for a free quote.

VA Loans

Banks and other private mortgage companies make a special type of home loan to veterans of the US Armed Services. A portion of each loan is guaranteed by the Veterans Administration (VA), and protects the lender's investment if the borrower defaults. Contact The Mortgage Florida today for a free quote.

Jumbo Loans

A jumbo mortgage is a mortgage with a loan amount above the industry-standard definition of conventional conforming loan limits. This standard is set by the two largest secondary market lenders, Fannie Mae and Freddie Mac. Loans above the conforming limits may be offered by seller servicers of these wholesale institutions, as well as Wall Street conduits who provide warehouse financing for mortgage lenders. The loan amounts reflect average loan sizes nationwide. Jumbo mortgages apply when agency (FNMA and FHLMC) limits don't cover the full loan amount. Contact The Mortgage Florida today for a free quote.

B/C Loans

A classification of loans associated with the borrowers that have tainted or limited credit histories. Generally, B/C refers to any loan that is classified as subprime, or a "B" or "C" class loan. Even with credit issues Mortgage New Port Richey can help find the best possible rate for your new mortgage. Contact The Mortgage Florida today for a free quote.