It is important for each person to find the loan that is best for their financial situation and circumstances. Mohsin Mortgage strives to help individuals find the right mortgage through 30-year fixed rate, 15-20 year fixed rate, one year adjustable rate and Veterans Affairs loans.
-30 Year Fixed Rate – Although a fixed rate mortgage will have higher interest rates it is more than worth the stability and certainty in budgeting the rate will provide over 30 years
-15 or 20 year Fixed Rate – A major advantage for a 15-20 year fixed or ARM mortgage will be the shorter duration of payments compared to the 30 year loan. The fixed rate will again provide more certainty compared to adjustable rate mortgages.
-1 year ARM – A one year arm is a strong option for recent college graduates. Lower salaries will be able to afford the low interest rates and as income increases you will be able to handle rising rates. Interest rate caps also exist to increase the predictability of fluctuations in rates.
-Veterans Affairs Loan – Qualified military personnel and veterans are able to receive mortgages of up to $417,000 with zero down payment that are guaranteed by The Department of Veterans Affairs. For Alaska, Hawaii, Guam, and the U.S. Virgin Islands VA loans can increase to $625,000.
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