Loan Types

Most home loans fall into one of two general categories: fixed-rate mortgages (FRMs) and adjustable rate mortgages (ARMs).

Fixed Rate Mortgages offer interest rates that stay the same for the entire loan term.

Fixed Rate Mortgages offer:

Predictable payments. The monthly principal and interest payment is fixed over the life of the loan.Protection from rising interest rates. No matter how high market interest rates go, your mortgage rate remains the same over the life of your loan.


Fixed Rate Mortgages Are Best For People Who:

Prefer regular payments with no surprise

Are on limited or fixed incomes

Plan to stay in their homes a long time

Are buying a home at a time when interest rates are comparatively low



Fixed-rate mortgages (FRMs) give you the security of knowing your monthly principal and interest payments will not change. Arizona Mortgage Broker offers a variety of conventional, customized and progressive fixed-rate loans, in both conforming and jumbo loan amounts, with terms ranging from 10 to 30 years.



Adjustable Rate Mortgages have interest rates that adjust periodically based on market conditions.

Adjustable-Rate Mortgages Offer:

Lower monthly payments. Because the initial interest rate is lower than with a traditional fixed-rate mortgage, you'll save on your monthly payments during the early years of the loan term. More buying power. Qualification is based on the lower initial payments, so you can get a larger loan amount.

A variety of fixed-period options. Depending on the ARM product you choose, the initial fixed-rate period may last for one year (1-year ARM), three years (3/1 ARM), five years (5/1 ARM), seven years (7/1 ARM), or even ten years (10/1 ARM).



Adjustable-Rate Mortgages Are Best For People Who:

Need a larger loan amount than they can qualify for with a fixed-rate mortgage

Want to save money in the short term

Plan to move or refinance within a few years

Are purchasing or refinancing at a time when interest rates are comparatively high


Adjustable-rate mortgages (ARMs) feature an interest rate that is fixed for an initial period, then adjusts periodically based on market fluctuations. Accesable Mortgage offers a variety of conventional, customized and progressive adjustable-rate loans, in both conforming and jumbo loan amounts, with terms ranging from 1 to 10 years.

Interest Only

Low monthly payments consisting only of interest for the first five or seven years
Available with 5/1 and 7/1 adjustable- rate loans
Homebuyers looking to increase their short-term cash flow
Homebuyers who intend to move or refinance within a few years

Jumbo Loans

Mortgage amounts in excess of the conforming loan limit of $333,700 set by Fannie Mae and Freddie Mac
Also known as non-conforming loans
Typically carry higher interest rates
Homebuyers who need financing to purchase a more expensive property
Investment-minded buyers who can afford a large purchase, but want to leverage their assets more effectively

Blend Jumbo Loan

A fixed-rate loan up to the conforming loan limit, combined with an adjustable-rate second mortgage to cover the rest of your home purchase
Lower monthly payments than with a regular jumbo loan for the same total amount

Expanded Financing Loans

Alternate documentation options for income, debt, and credit
Less hassle for self-employed borrowers or foreign nationals
Financing for unusual property types, such as condotels and log or earth homes
Self-employed homebuyers or foreign nationals who may have trouble with typical mortgage documentation requirements
People interested in financing unusual property types

Bridge Loan

Financing to purchase a new home before the existing home is sold
More buying power, because existing mortgage payments aren't considered for qualification

First-and-Second-Mortgage Combination

Combines a first mortgage with a home equity loan
Home equity loan can supplement down payment funds to bring the loan-to- value ratio down to 80%, bypassing mortgage insurance costs
Homebuyers without enough cash for a large down payment
Homebuyers who don't want to liquidate higher-yielding investments for a down payment
Bypasses mortgage insurance costs when loan-to-value ratio is less than 80%
Money that would have gone to mortgage insurance goes instead to tax- deductible interest payments
Homebuyers without enough cash for a 20% down payment