There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we’re here to help you choose the best type of home loan for your needs.
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-i...
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years)
Loan Program Options
VA loans are mortgages guaranteed by the Department of Vetrans Affairs. These loans off Military Vetrans exceptional benefits, incuding low interest rates and no down payment.
USDA - If you're looking to buy a home in a rual or suburban area with no down paynent and minimal investment, you might consider the USDA Rual Development Loan.
Jumbo loan is a mortgage used to finance properties that are too expensive for conventional conforming loan.
Conventional loan amounts are now up to $715,000. We have programs that allow as little as 3% down, with the lowest MI.
Reverse Mortgage allows you to pay off your exsisting mortgage using the loan proceeds, leaving you free from monthly paynents.
Chenoa Fund is a National down payment assistance program. THis program was created to increase nationwide affordable and sustainable homeownership, with a focus on creditworthly, low and moderate income borrowers.
Chenoa
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 78959
www.nmlsconsumeraccess.org
1713 E Sandys Grove Lane
Sandy, UT 84092
Phone: (801) 651-2758
NMLS: 193552
chrissy@providentfinancinggroup.com
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