LOAN PROGRAMS

 

Fixed Rate Mortgages
The most common type of mortgage program where your monthly payments for interest and principal never change. 

Adjustable Rate Mortgages (ARM)
These loans begin with an interest rate that is lower than a comparable fixed rate mortgage, but the rate changes at specified intervals.

Standard ARMS and the Differences
Choosing an ARM with an index that reacts quickly lets you take full advantage of falling interest rates.

Introductory Rate ARM's
Most ARM's have a low introductory rate, which is good anywhere from 1 month to as long as 10 years.

Reverse Mortgages
A Special type of loan made to older homeowners (typically 62 +) to enable them to convert the equity in their home to cash to finance other needs.

London Inter Bank Offered Rate (LIBOR)
LIBOR is the rate on dollar-denominated deposits, also know as Eurodollars, traded between banks in London.

Balloon Mortgages
Short term mortgages that have some features of a fixed rate mortgage.

Interest Rate Buydowns
The buyer would pay points above current market points in order to pay a below market interest rate during the first two years of the loan. At the end of the two years they would then pay the old market rate for the remaining term.

Cost of Funds Index (COFI)
The ratio of the dollar amount paid in interest during the month to the average dollar amount of the funds for that month constitutes the weighted average cost of funds ratio for that month.

Graduated Payment Mortgage (GPM)
With a GPM the payments are usually fixed for one year at a time.

Ted and Sonja bought a lovely home, on a quiet street, in a sought-after neighborhood, with no down payment. They used our Loan Finder service to shop among seven different zero down payment home loans.

Different loan programs
We have seven (7) different home loan programs that allow you to buy any priced between $150,000 and $550,000 with zero down payment, that's no-money-down

have six (6) other loans that you can use to buy home with just 1% to 3% down payment for homes priced from $100,000 up to $950,000.

We also have three (3) different loans which allow the lender or the seller to pay ALL of your closing costs.

We have five (5) different home loans loans with interest rates below six percent (6%).

recently found a bank offering a special Second-Time buyer loan featuring no down payment for current home owners who plan to keep their present home as a rental property.

Go To Our Online Application Now!

American Mortgage of Lake Tahoe
1111 Ski Run Blvd. Suite 2
South Lake Tahoe, CA 96150