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| 30 Year Fixed Conventional |
| 15 Year Fixed Conventional Loan |
| Various Arm Loans |
| Jumbo Loans |
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30 Year Fixed Conventional
This is a conforming loan where the monthly payment will remain the same for the entire period of the loan.
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15 Year Fixed Conventional Loan
This loan is based a on 15 Year Conventional loan with the monthly principal and interest payment remaining the same for the entire loan period. This is a conforming loan using Fannie Mae and Fredie Mac guidelines.
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Various Arm Loans
They are all 30 year loans with the 3, 5, 7, or 10 years being interest only and fixed those specificed number of years, at the end of those number of years the interest rates will adjust on a yearly basis based on the margin + index.
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Jumbo Loans
These loans are non-conforming loans where the loan amount is over $417,001.
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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