Thirty-Year Fixed Rate Mortgage – Conventional, VA and FHA

The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

Fifteen-Year Fixed Rate Mortgage – Conventional, VA and FHA

This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you’ll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn’t that great.

Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM)

These increasingly popular ARMS—also called 3/1, 5/1 or 7/1—can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. For example, a “5/1 loan” has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years. It’s a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.

Adjustable Rate Mortgages (ARM)

When it comes to ARMs there’s a basic rule to remember…the longer you ask the lender to charge you a specific rate, the more expensive the loan.


  • Fannie Mae/Freddie Mac
  • 3-5% down payment options available
  • PMI- (private mortgage insurance) required on <20% down loans
  • No monthly mortgage insurance required on 5%+ down loans (other MI options)
  • 10%+ down = credit scores 660+
  • 20% down = credit scores 620+
  • <10% down = 680+


A Federal Housing Administration (FHA) loan provides a great government-insured loan with flexible loan options. Let us educate you about FHA loans and help you take advantage of their many benefits.

  • Typical first-time homebuyer loan
  • Lower down payment required (3.5% minimum)
  • Lower minimum cash to close
  • Can do a no closing cost FHA loan
  • 580 credit scores+
  • Debt to income thresholds are higher
  • Upfront mortgage insurance premiums (1.75%) financed
  • Example, $275,000 house = $4812.50 (one-time fee)
  • Monthly MI premiums: Example, $275,000 house = $194.79/mo


This Legacy Mutual jumbo product is underwritten locally and in-house with excellent rates.

  • Non-Agency/Jumbo Financing to 90% LTV
  • 90% LTV options for primary residence and 2nd homes
  • No MI on any products
  • Loan amounts offered to $3,000,000
  • Financing available for primary residence, 2nd home, and investment properties
  • Asset Qualification Options Available
  • Delegated Underwriting


If you thought U.S. Department of Agriculture (USDA) loans were just for farmers – think again. USDA loans offer a number of unique benefits that set them apart from standard home loans. USDA loans require no down payment, so qualified individuals can finance up to 100% of the home’s total purchase price. This makes it one of the more desirable loans available to homeowners.

100% financing option available

  • Great rates and down payment options
  • Lower fees than other government programs
  • More affordable
  • Better terms than a FHA or Conventional loan
  • Flexible credit guidelines mean less than perfect credit may still qualify


We are a full-service mortgage team with an experienced staff offering expertise in every area of your home purchase. We are dedicated to finding the right loan and the right home to meet your unique needs. Our expertise is in VA and VA High Balance Programs, Expedite VA and Corporate Relocation, experience with military loan programs and Credit and Budget Counseling.

  • No down payment
  • All closing costs can be paid by the seller
  • Flexible credit requirements
  • VA Jumbo Loans for loan amounts over $548,250 (VA only)*
  • No private mortgage insurance (PMI)
  • VA streamline refinances available to lower payments when rates drop
  • Low 30 and 15 year fixed rate loans comparable to conventional loans with 20% down
  • Veterans can use their bonus entitlement to purchase additional homes

*Number is valid for MOST U.S. Counties, however if a Veteran has full entitlement available there is no longer a county loan limit. If the loan exceeds $548,250, then it is considered high balance but is still not subject to any down payment or PMI.