LOAN PROGRAMS

Loan Programs
CONFORMING LOANS (Loans in which the amount borrowed is less than or equal to $424,100)

FIXED RATE LOANS 30, 25, 20, 15, AND 10 Year Fixed

This type of loan has monthly payments that remain the same for the entire loan term after which time the loan is paid in full. The monthly payment is based on an interest rate which does not change over the term of the loan (hence the term “fixed rate”).

Fixed Rate Benefits:  Stable monthly payments



ARM (ADJUSTABLE RATE MORTGAGES) 5/1 and 7/1 ARM’s

This type of loan has monthly payments that are based on a 30 year repayment schedule. The rate stays fixed for the first 5 or 7 years (depending on chosen term), and then adjusts annually thereafter. The rate in which it adjusts to will be based on the index it is tied to and the margin. Because the interest rate can change after the fixed period, the monthly payment may also change. As an example a 5/1 arm would have a fixed interest rate for the first five years and adjust annually thereafter for the remaining 25 years.

Adjustable Rate Benefits: Lower payments than fixed mortgages during initial fixed period. Short term plans for ownership


 

SUPER CONFORMING LOANS (Loans in which the amount borrowed is greater than $424,100)

FIXED RATE LOANS 30, 25, 20, 15, AND 10 Year Fixed

This type of loan has monthly payments that remain the same for the entire loan term after which time the loan is paid in full. The monthly payment is based on an interest rate which does not change over the term of the loan (hence the term “fixed rate”).

Fixed Rate Benefits: Stable monthly payments



ARM (ADJUSTABLE RATE MORTGAGES) 5/1 ARM

This type of loan has monthly payments that are based on a 30 year repayment schedule. The rate stays fixed for the first 5 years, and then adjusting annually thereafter for the remaining 25 years. The rate in which it adjusts to will be based on the index it is tied to and the margin. Because the interest rate can change after the fixed period, the monthly payment may also change.

Adjustable Rate Benefits: Lower payments than fixed mortgages during initial fixed period. Short term plans for ownership


 

JUMBO LOANS (Loans in which the amount borrowed is greater than $424,100 or greater than the Super Conforming loan limits established per state)

FIXED RATE LOANS 30 or 15 Year Fixed

This type of loan has monthly payments that remain the same for the entire loan term after which time the loan is paid in full. The monthly payment is based on an interest rate which does not change over the term of the loan (hence the term “fixed rate”).

Fixed Rate Benefits: Stable monthly payments



ARM (ADJUSTABLE RATE MORTGAGES) 5/1 ARM

This type of loan has monthly payments that are based on a 30 year repayment schedule. The rate stays fixed for the first 5 or 7 years (depending on chosen term), and then adjusts annually thereafter. The rate in which it adjusts to will be based on the index it is tied to and the margin. Because the interest rate can change after the fixed period, the monthly payment may also change. As an example a 5/1 arm would have a fixed interest rate for the first five years and adjust annually thereafter for the remaining 25 years.

Adjustable Rate Benefits: Lower payments than fixed mortgages during initial fixed period. Short term plans for ownership


 

Refinance

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Rate & Term Refinance

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Cash-Out Refinance

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Debt Consolidation

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Shorten Length of Term

Z

Get Rid Of PMI

Purchase

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Primary Residence

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Second Home

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Investment Property

Sunset West Financial, Inc. DBA Amerimac Plaza West Financial

28202 Cabot Road #300 Laguna Niguel, CA 92677

Phone 949-248-3091

NMLS Unique Identifier 233171

CA Bureau of RealEstate# 01160537

M-F 9AM-5PM PST (After hours by appt/ via email)

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