There are over 100 loan products from which a borrower can choose, below we have highlighted some of the more popular loan choices:

• 100% Financing: This product allows a borrower to finance a home at the purchase price, without putting any money down. This product is most popular amongst first-time home buyers.
• 80/10/10 Loan: 80% LTV first mortgage loan, 10% LTV 2nd mortgage, 10% down payment from borrower. This loan option allows a borrower avoid paying Private Mortgage Insurance (default insurance for loans with less than 20% down).
• ARM (Adjustable Rate Mortgage): Fixed rate loan for a fixed term (usually ranging from 1-7 years) that converts to a variable rate loan after the fixed term. Borrower receives a rate discount as compared to the 30 year fixed rate loan.
• Balloon Loan: This loan also has a fixed rate for a period of time, typically 3-7 years, then the loan re-prices to current market rates. These loans are priced very attractively to the 30 year fixed rate loans, so many borrowers who project a short stay in a property will choose this loan option.
• Interest Only Loans: Borrowers pay just interest due each month. Payment is approximately 2/3 the 30 year fixed rate loan payment.
• Traditional Loans: Fixed rate loans for terms ranging from 10-30 years. This product is more expensive than the other options, but it also offers maximum insurance for borrowers.