Dan Marston, Mortgage Consultant, 10260 SW Greenburg Rd #830 Portland, OR 97223 office 503-520-1141 x112 cell 503-869-5368 fax 503-520-0620
- Whether you're buying your first home or your dream home, I'll provide you with the loan that meets your specific needs. So, regardless of which end of the loan spectrum you're on, we'll find you the financing that makes you feel at home. Here are a few of the many loan products we offer . . .
- 30-Year Fixed
A loan that has an interest rate that is fixed for the term of 30 years. With the interest rate locked for the term of the loan the corresponding principal and interest payment is fixed for the term and pays the loan in full at the end of the term. - 15-Year Fixed
A loan that has an interest rate that is fixed for the term of 15 years. With the interest rate locked for the term of the loan the corresponding principal and interest payment is fixed for the term and pays the loan in full at the end of the term. - 7/1 Adjustable Rate Mortgage (ARM)
A loan that has a fixed interest rate, principal and interest payment for the first 7 years. Starting the 8th year the loan converts to a 1 year adjustable. - 5/1 Adjustable Rate Mortgage (ARM)
A loan that has a fixed interest rate, principal and interest payment for the first 5 years. Starting the 6th year the loan converts to a 1 year adjustable. - 3/1 Adjustable Rate Mortgage (ARM)
A loan that has a fixed interest rate, principal and interest payment for the first 3 years. Starting the 4th year the loan converts to a 1 year adjustable. - 1-Year Adjustable Rate Mortgage (ARM)
A loan that has an interest rate that may adjust every 12 months. With the adjustment in the interest rate the corresponding principal and interest payment may adjust. The adjustments in both the interest rate and payment are subject to limitations (caps) both yearly and overall as established at the inception of the loan. The term of the loan is typically 30 years and the initial interest rate is usually lower than a 30-year fixed rate loan. - Conforming Loans
Loans up to $417,000 that meet the requirements set forth by Federal National Mortgage Association and/or the Federal Home Loan Mortgage Corporation. - Jumbo Loans
A jumbo mortgage is a home loan that exceeds the limits set by Fannie Mae and Freddie Mac currently $417,000, this limit is 50% higher in Alaska, Hawaii, Guam, and the U.S. Virgin Islands. - VA Loans
Loans made by lenders that are guaranteed by the Veterans Administration for veterans. The veteran must have their VA Eligibility Certificate and plan to live in the home. The benefits are a lower down payment and cost requirements. - FHA Loans
Loans which are insured by the Federal Housing Administration, a division of Housing and Urban Development of the federal government. There are loan limits dependent upon the location of the property. The advantages to an FHA loan are lower down payment requirements and typically easier qualification requirements. - Full Document Loans
A loan where all income, assets, credit and collateral are verified in written form. - Credit/Asset Qualification Loans
A loan, which for qualification purposes, whereby income is not verified. The loan is underwritten based on credit, assets, and collateral information. These loans usually have restrictions concerning loan amount and have credit requirements. These loans also typically have a higher interest rate.
