Meyer Mortgage Corporation: Loan Programs - Conventional, FHA, VA, Purchase, Construction and Refinance Loans

Meyer Mortgage Corporation offers home buying, financing, mortgage and loan services, construction underwriting loans, buyer's guide and residential real estate loans.

At Meyer Mortgage Corporation, we're dedicated to financing the American Dream. That's because we believe in the importance of owning your own home, working for it and being proud of it. From loans for first-time buyers to jumbo mortgages, we'll help you get there.

Meyer Mortgage Corporation specializes in all types of residential mortgage loans, including conventional, FHA, and VA home loan options. Depending on your needs and qualifications, these loans are available for terms of 10, 15, 20, 25 and 30 years with competitive fixed or variable rate options. With a variable rate mortgage, your monthly payment and interest rate fluctuates during the course of your loan as based on a published financial index. This type of loan allows you to benefit from any drop in interest rates.

Review the information below, then contact us to discuss which type of mortgage best suits your budget and borrowing needs. We'll match you with the lowest rates and best possible terms!

Conventional Mortgage Loans:

Conventional home loans are typically available for terms of 10 to 30 years with fixed rates or several variable rate options. With a fixed rate mortgage, your monthly payment and interest rate remain constant for the life of your loan. This ensures that you'll always be certain of the amount of your monthly mortgage payment. With a variable rate mortgage, the interest rate fluctuates during the course of your loan as based on a published finaicial index. This type of loan allows you to benefit from any drop in interest rates.

Construction/Permanent Loans:

A construction loan is a short-term loan that is based on draws during the course of construction. Interest is paid only on the amount drawn out on a monthly basis. This type of loan lets you pay your builder, electrican, etc. in a timely manner, providing you with the initial resources needed to build your home to completion. Once your home is ready for you and your family to move in, the construction loan can be converted to a long-term mortgage. With this type of conversion, you'll typically only pay one set of closing costs.

FHA Loans:

FHA (Federal Housing Administration) insured mortgages available from approved lenders allow qualified buyers to purchase a home with a lower down payment than most conventional-type mortgages. Talk with one of the loan officers at Meyer Mortgage to see if you qualify.

VA Loans:

VA home loans are guaranteed by the Department of Veterans Affairs. The VA program enables a qualifying veteran to buy a home at 100% financing.

Refinance Loans:

Meyer Mortgage can access your situation to see if refinancing makes sense for you at this time. If it does, we'll be happy to discuss your refinance options and help select the plan that best suits your immediate and long-term goals.

Balloon Mortgage:

If you think you'll probably be moving within the next few years, a balloon mortgage loan gives you the opportunity to amortize your loan over a 30 year pay period while the interest rate remains fixed for a five to seven year term. When your balloon mortgage matures, you would have the opportunity to refinance your loan at the current market rate.

Jumbo Mortgage:

These home loans are designed specifically to meet your needs if you are financing a home loan amount in excess of $322,700. Depending on your needs, these loans are available for terms of 10 to 30 years with fixed rates or several variable-rate options.

Adjustable Rate Mortgages (ARMs):

Adjustable rate mortgages (ARMs) are secured by your principal residence. The interest rate varies, based on a published financial index, plus a margin (with restrictions on interest rate increases during any adjustment period and during the full term of the loan). ARMs are typically available in terms up to 30 years, with no penalty for prepayment, making them ideal for those who anticipate moving within three to seven years.

Hybrid ARMs -- sometimes referred to as 3/1, 5/1, 7/1 or 10/1 loans -- have fixed rates for the first three, five, seven or 10 years, followed by rates that adjust annually thereafter.