LET'S GET
THIS HOUSE
Most families don't realize how much has changed since they applied for their mortgage. Others have never had a mortgage and have only ever heard the bad that comes of it!
Our team of Mortgage Experts is here to guide you through the lending process quickly and stress-free,
Loan Programs
What kind of loan program is best for you?
"Should I get a fixed-rate or adjustable rate mortgage?" "What's the difference between a conventional loan and a government loan?"
Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer. Fortunately, the Mortgage Expert Team at MaryMac Mortgage will help you build a mortgage plan that fits your current lifestyle and your future goals.
Fixed-Rate Mortgages
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 (ARM)
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.
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Hybrid ARMs (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)
Hybrid ARM mortgages combine features of both fixed-rate and adjustable rate mortgages and are also known as fixed-period ARMs. -
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Components of an ARM
Prior to choosing a home loan, you should know the advantages and risks of adjustable-rate mortgages to make an informed, prudent decision. -
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Commonly Used Indexes for ARMs
This article includes a list of the most commonly used indexes by ARM lenders that affect ARM mortgage rates.
I am here to carefully guide you through the lending process from start to finish - from your first open house to your very own settlement. Once you submit your online appIication, you can expect to hear back from me shortly to discuss the next step.
I am always available for a phone call or a walk-in appointment, and we'd love to sit down with you and discuss your goals and how I can help you accomplish them!
Call me today at , (410) 861-7130 and Let's Get This House.
FHA Loans
FHA 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
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 requirement. This program was designed to help military veterans realize the American dream of home ownership.
HARP 2.0
HARP 2.0 is a refinance option for homeowners that are "underwater," meaning they owe more on their home than their home is worth.
Interest Only Mortgages
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 period of time.
Balloon Mortgages
Balloon mortgages include a note rate that remains fixed initially, and the principal balance becomes due at the end of the mortgage term.
Reverse Mortgages
Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.
Graduated Payment Mortgages
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and becomes fixed for the remaining duration of the loan.
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