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LOAN PROGRAMS - WHICH
ONE IS RIGHT FOR YOU?

There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we’re here to help you choose the best type of home loan for your needs.

MORTGAGE RATE OPTIONS:

FIXED RATE

The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

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INTEREST ONLY

Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specified amount of time.

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ADJUSTABLE RATE

Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions.

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GRADUATED PAYMENTS

Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and then becomes fixed for the remaining duration.

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LOAN PROGRAM OPTIONS:

FHA HOME

LOANS

FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.

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CONVENTIONAL LOANS

Conventional Loans are not part of a specific government program, which means that they are serviced by private mortgage lenders like banks, credit unions, and/or other financial institutions - with a majority backed by either Fannie Mae or Freddie Mac. 

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JUMBO

LOANS

A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. 

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VA

LOANS

VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment.

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USDA

LOANS

If you're looking to buy a home in a rural or suburban area with no down payment and minimal investment, you might consider the USDA Rural Development Loan.

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OUTSIDE THE BOX LOANS

Do none of these options feel like they fit? At Coastline Mortgage, we offer all the traditional mortgage products PLUS a little extra by thinking Outside the Box. 

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