LOAN PRODUCTS

Home loans offered by Golden Castle Realty and Loans include conventional 30-year fixed rate mortgage, 15-year fixed rate mortgage, adjustable rate mortgages (ARM), FHA loans, VA loans, and reverse mortgages.

FIXED RATE HOME MORTGAGE LOANS

With a fixed rate home loan, the monthly payment remains the same throughout the life of the loan. Your mortgage rate and payment are fixed for the life of your home loan with terms that you can choose ranging from 10 to 40 years. A conventional loan is any loan that is not related to a government agency. It is a mortgage not insured by FHA or guarantee by the VA or Farmers Home Administration.

ADJUSTABLE RATE HOME MORTGAGE LOANS

With an adjustable rate mortgage loan (ARM), you can lower your monthly mortgage loan payment because mortgage rates for ARMs are usually lower than traditional fixed rate programs. If you plan on selling or refinancing your home in less than 10 years, then an adjustable rate mortgage loan may be right for you.

FHA HOME MORTGAGE LOANS

FHA home mortgage loans are insured by the Federal Housing Administration. FHA home loans offer many advantages including low down payment requirements, flexible credit guidelines for people who have less-than-perfect credit and expanded qualifying ratios for people with low-to-moderate incomes.

VA HOME MORTGAGE LOANS

With a VA home mortgage loan, the Department of Veteran’s Affair (VA) acts as a guarantor and, in effect, co-signs loans for eligible veterans. The idea is to help veterans buy homes so that, theoretically, the VA is the veteran’s co-borrower.