The Top Five Loan Programs Available Today

The list below includes five of the most popular loan programs in the market today. The popularity of loans changes due to overall market conditions, interest rate changes, and the Federal Reserve´s monetary policies. Please email me or call to obtain today's exact rate on any of these loans. Rates change as often as twice daily in Hawaii.

	30 year fixed rate mortgage - This remains the one most popular loan product because it gives borrowers the greatest degree of stability and predictability in their mortgage payment. However, that stability does come at a higher price and interest rate. This loan is most appropriate for a borrower who expects to be in the home for at least seven years, does not feel comfortable with interest rate risk at all, and does not expect any increases in household income over the term of homeownership.
	15 year fixed rate mortgage - This loan is also popular with borrowers who wish to fix their rate and payment, but also those who would like to get out of debt as soon as possible. The advantage is that the loan gets paid off much sooner, saving significant amounts of interest payments over the term of the loan. The downside, however, is that monthly payments are approximately 30% higher than on a 30 year mortgage.
	The fixed/adjustable rate combo loan - This loan carries a 30 year term, but the rate and payment are not fixed for the entire 30 years. You may fix the rate for 3, 5, 7, or 10 years, and then the loan turns into an adjustable rate mortgage for the remaining time. This loan is well suited to those borrowers who do not expect to be in their homes for the entire term, but nonetheless desire some level of stability and predictability in their rate and payment. These loans are particularly attractive when you keep in mind that the average loan is only kept outstanding for five years. So why pay the interest rate premium if you´re not going to use it?  These programs also come with an interest only feature for a very attractive payment.
	Jumbo 30 year fixed rate mortgage (for loans greater than $625,500) - This remains the one most popular loan product because it gives borrowers the greatest degree of stability and predictability in their mortgage payment. However, that stability does come at a higher price and interest rate. This loan is most appropriate for a borrower who expects to be in the home for at least seven years, does not feel comfortable with interest rate risk at all, and does not expect any increases in household income over the term of homeownership.
	30 year fixed rate mortgage (No Income Verifier, NIV) - This remains one of the one most popular loan programs for self employed borrowers with large assets and who's total income can not be verified. This loan carries a slightly higher interest rate than conventional loan programs, but is a great program for people that do not like all of the paper work for conventional loans.
	A loan program that has come back into popularity is the VA Program.  Now that VA uses Standard Conforming Loan Limits ($625,500).  This is a good way for a veteran or active duty to purchase with 100% financing.  No mortgage insurance at very competive rates. Click here to view our website!

Click here to Meet Our Loan Consultants: or Call 808-791-2234 for more information on the loan programs.