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Which loan is right for me? 

Years you plan to stay in the home	Recommended program
1-3 years	3/1 ARM, 1 year ARM or 6 month ARM
3-5 years	5/1 ARM
5-7 years	7/1 ARM
7-10 years	10/1 ARM, 30 year fixed or 15 year fixed
10+ years ------------------------------ 62 years old	30 year fixed or 15 year fixed ------------------------------------------- Reverse Mortgage

  Is your current mortgage on the verge of foreclosure?  Call us, we may be able to help.

Loan Program	Advantages	Disadvantages
Fixed Rate Mortgages 30 year fixed 15 year fixed	Monthly payments are fixed over the life of the loan Interest rate does not change Protected if rates go up Can refinance if rates go down	Higher interest rate Higher mortgage payments Rate does not drop if interest rates improve
Loan Program	Advantages	Disadvantages
Adjustable Rate Mortgages 10/1 ARM 7/1 ARM 5/1 ARM 3/1 ARM 1 year ARM 6 month ARM 1 month ARM	Lower initial monthly payment Rates and payments may go down if rates improve May qualify for higher loan amounts 30 year term, no balloon payment	More risk Payments may change over time Potential for higher payments if rates increase
Loan Program	Advantages	Disadvantages
Balloon Mortgages 7 year 5 year	Lower initial monthly payment Lower payment for a predetermined period of time Many balloon mortgages offer the option to convert to a new loan after the initial term	Risk of rates being higher at the end of the initial fixed period Risk of foreclosure if you cannot make balloon payment, refinance, or exercise the conversion option Balloon payment requires you to sell or refinance after the term, as opposed to a 7/1 or 5/1 program with a 30 year term
Loan Program	Advantages	Disadvantages
First Time Buyer Programs	Lower down payment Easier to qualify Lower rates may be available	May be subject to income and property value limitations Some government subsidized programs may generate a recapture tax if you sell the house too soon Education courses may be required to qualify for these loans
Loan Program	Advantages	Disadvantages
Stated Income Programs	Don't need to verify income Faster approval Good for borrowers who may not qualify with a full income documentation program	Higher rates Higher downpayment
Loan Program	Advantages	Disadvantages
Interest Only Programs	You have several payment options Lower monthly payments Qualify for a higher loan amount Qualify at the interest only payment Option to pay the full normal payment Interest only payments for up to ten years	Higher rates Principal loan balance will not decrease during the interest only payment period Payment will be higher for the remaining term
Loan Program	Advantages	Disadvantages
No point, No fee Programs	No out-of-pocket loan costs at closing Closing costs are paid from the lender rebate Less money required to close Refinance without increasing your loan amount	Higher rates Higher payments Some lenders may have a short payoff penalty which is usually charged to the loan broker, but may be passed on to you Some require a prepayment penalty for the first one to five years
Loan Program	Advantages	Disadvantages
Imperfect Credit Programs *Currently we are not doing "subprime loans"	Potential for reestablishing credit if you pay your mortgage on time When used for debt consolidation, you may be able to reduce your monthly debt payment	Higher rates Terms may not be as favorable Harder to get long-term fixed loans Loans may have prepayment penalties
Loan Program Advantages Disadvantages Hard Money Loan                                         Property Equity based/Not credit based Loan based on property equity.  Very quick close Little or no documentation Credit Scores are not the key factor for loan approval decision LTV is the key factor (borrowing may be limited to 70% - 75% of property value) Higher rates  and closing fees to be expected Terms may not be as favorable
Loan Program	Advantages	Disadvantages
Home Equity Line of Credit	You only borrow what you need Pay interest only on what you borrow Flexible access to funds Interest may be tax deductible May be free of closing costs A good source for an emergency fund, if set up in advance Can be used for debt consolidation and lower payments Rates are usually lower than consumer loan or credit card rates	Rates can change. The maximum interest rate can be relatively high Payments can change Harder to refinance your first mortgage
Loan Program	Advantages	Disadvantages
Reverse Motgage	Retain ownership of your home No asset, income or credit qualifications to obtain this loan, just sufficient equity No monthly repayment for as long as the borrower(s) occupy the property as a primary residence Get cash out for any purpose No monthly payments; instead you can receive a Lump sum, or monthly cash advances (Tenure or Term), Establish a line of credit, or combination of the above Loan proceeds are not considered "income" and do not affect Social Security or Medicare benefits Repayment of the loan is limited to the outstanding balance of the reverse mortgage loan or the selling price of the property an no more.  The borrower's heirs are never asked to pay any deficiency.  Any left over equity after paying off the loan belongs to the borrower's estates or their heirs Heirs can keep the home by paying off the outstanding reverse mortgage loan or by paying the selling price of the home, whichever is less	All borrowers (title holders) must be 62 years or older and own an eligible property CPR type houses not eligible Some leaseholds not eligible FHA Maximums on home values:     $544,185  (Oahu, Maui, Kauai)     $426,550.00 (Hawaii) Or appraisal value, whichever is less

 In addition to our standard loan programs, you may benefit by obtaining one of our many special programs:

• Purchase your home with no down payment.   VA Loans for Military
• Small Commercial Loans 
• Construction Loans
• Condotels (without full kitchen - 50% LTV)
• Legitimate Condotel (600sq. ft with at 1 bedroom and full kitchen)
• You may qualify even if you've been turned down before!