Executive Concourse Two
3327 Duluth Highway 120, Ste 201
Duluth, GA 30096
Toll Free: (877) 236-9561
Office: (770) 232-9561
Fax: (770) 232-9562
30-year Fixed Mortgage Loans:
Evidently, the interest rate on a fixed rate mortgage remains the same for the term of the loan. And so your monthly payment (principal balance and interest) also remains the same. The entire mortgage loan is repaid in equal monthly installments over the entire length of the loan.
Interest-only home mortgages:
An interest only home mortgage features no payments of principal made at the beginning of the home loan.
The monthly payments consist of mortgage interest only. Due to the lower monthly mortgage payments, you qualify for a bigger residential loan. An interest only home mortgage allows you to buy more home while keeping your monthly mortgage payments low.
Refinance home mortgages:
Paying off one loan with the proceeds from a new loan using the same property as security.
Adjustable Rate Mortgage (ARM) loans:
A mortgage with an interest rate that changes during the life of the loan according to movements in an index rate. Sometimes called AMLs (adjustable mortgage loans) or VRMs (variable-rate mortgages).
Cash-out refinance loans:
Convertible ARM mortgage loans:
A provision in an ARM allowing the loan to be converted to a fixed-rate at some point during the term. Usually conversion is allowed at the end of the first adjustment period. The conversion feature may cost extra.
Home equity lines of credit:
An agreement by a commercial bank or other financial institution to extend credit up to a certain amount for a certain time.
Commercial property loans:
A loan granted for a commercial purpose, normally secured against commercial property, although residential property may be used as security but the loan is for the benefit of commercial purposes.
Home renovation loans:
A loan or a mortgage taken out for the sole benefit of improving the property.
Investment property loans:
Income received from investments. This could be from rental income on investment property, dividends on equities or interest on deposits with financial institutions.
Second home mortgage
A second mortgage is a mortgage in addition to that of the first mortgage usually referred to as a secured loan as such is usually secured by way of a second charge. A second charge can only redeem value from the property after the first charge holder has been repaid in full.