Loan Programs

There are many loan programs available - too numerous to cover them all, we've highlighted the programs more commonly offered today. Characteristics of each loan program are unique, so consult your mortgage professional for more information and to become familiar with the details of the programs available to you.

To help determine the best loan program for you, consider the following:

How important is payment certainty? If knowing that your payment will be the same every month is important, consider a fixed-rate mortgage.

How important is rapid equity buildup? If rapid equity buildup is a factor, consider a shorter amortization period, such as a 15-year, fixed-rate mortgage.

Do you anticipate increasing or stable income? If income growth is anticipated, you could take advantage of a lower start rate on an ARM or a temporary buydown.

Other factors to consider include:

ability to qualify at market rates for loan amount selected
anticipated term of occupancy
possibility of significant rate changes
existence of up-front costs

Loan Programs

Characteristics

15- and 30-Year Fixed-Rate Mortgages

Interest rate does not change.
Principal and interest (P & I) does not change.
Fixed-rate mortgages fully amortize over a defined period of time and are paid in-full at the end of the loan term.
Different loan terms are available (15- and 30-year terms are most popular).
The shorter the term, the faster equity is built and the loan is paid off.

Fixed-Rate Balloons

P & I payment and interest rate do not change.
Regular monthly P & I payments are based on 30-year amortization, while the unpaid balance (balloon) is due at the end of a shorter, predetermined term, typically 5, 7 or 10 years.
Interest rate is typically less than fixed-rate loans.
Most borrowers anticipate refinancing or selling prior to the end of the balloon term.

Fixed-Rate with Temporary Buydown

Borrowers or the seller may pay to temporarily "buy down," or lower, the interest rate.
Decreased interest rate reduces the monthly payment.
Lower interest rate may help borrowers qualify more easily; qualifying factors may vary.
Interest rate/payment is typically reduced for 1, 2 or 3 years

Interest-Only Mortgages

There are no reductions to the principal amount.
There is no provision for negative amortization.
Payments may increase up to an amortized amount, but the loan balance itself does not increase.
Generally, interest-only payments are limited to the first 5, 10 or 15 years of the loan.
After that, the loan is amortized for the remainder of its term

Adjustable-Rate Mortgages (ARMs)

There is potential for the interest rate/ payment to fluctuate.
ARMs transfer to borrowers a portion of the risk associated with a changing economy.
In exchange for sharing the risk, ARMs offer borrowers initial interest rates that are substantially lower than fixed-rate mortgages.
The lower interest rate may help borrowers qualify more easily; qualifying factors may vary.

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1901 N BROADWAY

SANTA ANA, CA 92706

For questions, assistance with filling out online forms or applying online:

info@arrowheadlending.com

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1-888-844-7439

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We lend in the state of California , we specialize in Orange County, Riverside County, Los Angeles County, San Bernardino County and San Diego County but we service the entire state. Do not hesitate to try us if you live in any city in Ca. We can help you get the best mortgage.

Our website allows you to apply online and get a quick and accurate response.

Find out what you qualify for today.

We offer all types of home loans including First and Second Mortgages, FHA loans and conventional loans. For those borrowers wanting a flexible cash out loan we can provide a Line of Credit or HELOC loan which allows you to tap into your home equity. We offer fixed rate as well as adjustable rate loans or ARMs. As for qualifying, there are Easy Qualifying or Ez Qual and the traditional Full Qualifying or Stated Income types. We can obtain financing for owner occupied as well as non owner occupied investment properties. We offer the lowest rates possible on A credit and subprime or alt-A credit scores. Fico scores are very important these days and there are a variety of loan options for the range of credit scores from 580 to 850.

If you are shopping for refinancing an existing mortgage or obtaining a purchase money loan, California home loans are our specialty, we make applying online easy.

Arrowheadlending.com is a division of Arrowhead Mortgage, Inc. a California DRE licensed broker.

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Loan Programs