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NationalForeclosures.com presents this Free Home Mortgage Comparison Report...

Which Real Estate Loan Program is Best for You?

Years you plan to stay in the house Recommended Program
1-3 3/1 ARM, 1 year ARM or 6 month ARM (possibly Cash Flow ARMS)
3-5 5/1 ARM
5-7 7/1 ARM
7-10 10/1 ARM, 30 year fixed or 15 year fixed
10+ 30 year fixed or 15 year fixed

Want the lowest payment available with options? Then check out the CASH Flow ARMS!

Request a Complimentary & Pressure Free Consultation with a Nationwide Mortgage Banker & REO Investment Specialist!

Fixed Rate Mortgages
Loan Programs
30 year fixed or
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
Adjustable Rate Mortgages
Loan Programs
10/1 ARM
7/1 ARM
3/1 ARM
1 year ARM
6 month ARM
1 month ARM
* Lower initial monthly payment
* Lower payment over a shorter period of time
* Rates and payments may go down if rates improve
* May Qualify for higher loan amounts
* More risk
* Payments may change over time
* Potential for high payments of rates go up
Balloon Mortgages
Loan Programs
7 year
5 year
* Lower initial monthly payment
* Lower payment over a shorter 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 or if you cannot refinance or if you cannot exercise the conversion option
First Time Buyer Programs
*Lower down payment

*Easier to qualify

*Sometimes you may get lower rates

*May be subject to income and property value limitations            *Some programs which have government subsidies may have a recapture tax if you sell the house too early

Stated Income Programs

* Don't need to verify income

* Faster Approval

* Higher Rates

* Higher down payment

No point, No fee Programs

* No closing costs

* Less money required to close

* Higher Rates

* Higher payments

Imperfect Credit Programs

* 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

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                                  
* Rates can change. The maximum interest rate is normally high.         
*Payments can change             
*Harder to refinance your first mortgage.

Home Equity Fixed Loan

* Fixed Payments                                               
*Interest may be tax deductible                                  
*Higher interest rates than on 1st mortgages.                                  
*Harder to refinance your first mortgage.

We hope this information has been of help to you and if you need to be contacted by one of our Nationwide No Money Down Specialists, then Click Here!

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