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.
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.
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-i...
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.
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.
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. USDA loans are low-interest mortgages designed for low-income Americans who don't have good enough credit to qualify for traditional mortgages. You must use a USDA loan to buy a home in a designated area that covers several rural and suburban locations.
Jumbo Loans are mortgages where the borrowed amount is more than the standard "conventional loan" limits.
We've been helping customers afford the home of their dreams for many years and we love what we do.
ME License #SLM7216
MA Broker #MB21819 (we arrange but do not make loans)
CT Broker NMLS ID#21819 (we are a mortgage broker only, not a mortgage lender or mortgage correspondent lender)
Oakdale Mortgages
33 Oakdale St
Portland, Maine 04103
Phone: (617) 848-5983
(207) 773-3173
elitvin@oakdalemortgages.com
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