PROGRAMS

Since some mortgage options are less conservative than others, it's important to determine if you are a risk-taker or if you prefer more stability in your financial dealings. Do you invest in the stock market? Or put your money into Certificates of Deposit? These are two different ways of handling money. Depending on your answers to these and other questions that may be asked by your lender, you will be able to choose the mortgage that is right for you.

• Commercial mortgage
• Fixed-Rate Mortgages
• Business loan/SBA
• FHA & VA Loans (also known as Government Loans)

Commercial Mortgage

A commercial mortgage is a loan used to finance commercial properties. It is secured by the property itself and has different terms compared to residential mortgages. The loan is provided by lenders to businesses or individuals for purchasing, refinancing, or developing income-generating properties such as office buildings, retail spaces, or apartment complexes. Repayment is typically made through monthly payments over a fixed period. 

Commercial mortgages play a crucial role in enabling businesses and

 investors to acquire or develop commercial real estate

Fixed-Rate Mortgages

If you're looking for a mortgage with payments that will remain essentially unchanged over its term, or if you plan to stay in your new home for a long time, a fixed-rate mortgage is probably right for you.

With a fixed-rate mortgage, the interest rate you pay and the monthly principal and interest payments are agreed upon from the outset and will not change throughout the term of the mortgage. In other words, the interest rate you close with won't change—and your payments of principal and interest will remain the same each month—until the mortgage is paid off.  As you can see, the fixed-rate mortgage is an extremely stable choice. You are protected from rising interest rates. And it makes budgeting for the future very easy.

But in certain types of economies, interest rates for a fixed-rate mortgage can be considerably higher than the initial interest rate of other mortgage options. That is the one disadvantage of a fixed-rate mortgage. Once your rate is set, it does not change and falling interest rates will not affect what you pay. However, you do have the option of refinancing if interest rates drop significantly.

Business loan

A business loan is a type of financing provided by lenders to businesses for various purposes, such as expansion, purchasing equipment, or managing operational expenses. It involves borrowing a specific amount of money and repaying it over a fixed period with interest. Business loans play a crucial role in supporting business growth and enabling companies to fund their operations and initiatives.

FHA & VA Loans (also known as Government Loans)

Veterans may qualify for Veterans Administration mortgages. There are caps on the size of a VA loan you can get, but this loan could be ideal for buying a lower priced home with a small down payment.

FHA or Federal Housing Administration loans are available to Americans with smaller incomes who are buying modestly priced homes. Look for properties that are designated as "FHA approved."