Category: Types of Mortgages

Adjustable Rate Mortgage

Post author By Dante Lauria
Post date June 10, 2020

Pros and Cons of an Adjustable Rate Mortgage (ARM) A mortgage that has a Fixed Rate comes in 10, 15, 20, 25, and 30-year standard terms. Adjustable rate mortgages come in plenty of forms; well over 100 varieties. Many varieties were not designed with the consumer in mind, mostly they are an investment product with […]

Tags 10 year Treasure, A.R.M., Adjustment Caps, ARM, Fixed Rate, Fully indexed rate, Index, LIBOR, Lifetime caps, Margin, Points, T-Bill, Teaser Rate, Terms, US Treasury

Mortgage Bridge Loan

Post author By Dante Lauria
Post date June 10, 2020

Mortgage Bridge Loan Explained A Bridge Loan is a second position mortgage on your outbound (former) primary residence. It is designed to extract equity from the departure residence to be used as a down-payment on the destination (future) primary residence. How do I get a Bridge Loan? In an ideal world you will never need […]

Tags Buying and Selling a Home, Calculator, Home buying process, Mortgage Bridge Loan, PreApproval, PreQualification

Jumbo Mortgage

Post author By Dante Lauria
Post date June 10, 2020

What is a Jumbo Mortgage? A jumbo mortgage doesn’t have a technical definition; it is the “white space” where Agency mortgages stop. If it had a static definition it would never be the same two years in a row. And jumbo’s have a multiple of variables. On January 1, 2020 the conforming loan limit set […]