Below are some of the programs available to you when choosing a mortgage.

• Fixed Rate Mortgages are a traditional favorite, with predictable monthly principal and interest payments over the life of the loan. The consistent payments simplify home budgeting. A variety of terms are available for conforming and jumbo loan amounts. Terms ranging from 10, 15, 20, and 30 years offer the most competitive in rates available.
   
• Adjustable Rate Mortgage (ARM) Loans typically provide for lower initial interest rates, thus allowing buyers to often stretch their income further and afford a more expensive house. A variety of terms are available including a 1-year, 3/1-year and a 5/1-year ARM.
  
  More information on ARM's can be researched at the Better Business Bureau's website (http://www.bbbhou.org/money/arm.htm).
   
• Interest-Only ARM Loans are quickly becoming more popular. The monthly payment charged is only the interest; no principal is being paid down. It doesn't sound so good until you realize in the first 5 years how much principal is being paid down on a standard 30 yr fixed… not a lot. And since rates are getting higher on fixed rate loans, buyers can qualify for more because the payment is lower than a 30 yr Fixed.
   
• Balloon Mortgage Loans offer a monthly payment of principal and interest using a 30-year amortization, but require a balloon payment of the remaining balance after a period of time, such as our 7-year program. The interest rates for this product are generally less than fixed rate mortgages.
   
• Affordable Housing Loans offer low-to-moderate income buyers assistance in purchasing homes. The program provides education, financial and qualification assistance to those individuals meeting guidelines of the program.
   
• 80-10-10 Loan allows you to make only a 10% down payment on a home while borrowing an additional 10% through an equity line of credit and the remaining 80% on the first mortgage. This type of loan helps build the equity in your home faster while eliminating the need for mortgage insurance. This type of loan will require more stringent guidelines than most loans. An 80-15-5 Three-Step Loan is also available for those wishing to make a 5% down payment. Again, more stringent guidelines will apply for this type of loan.
   
• FHA Financing provides for more flexible credit standards and requires a lower down payment. Down payment assistance programs are typically allowed with this type of loan program.
   
• Construction Loans allow you to build the new home of your dreams to your exact specifications. Cornerstone Bank can provide funds from the planning stages through completion with easy no-cost conversion to permanent financing - with only one closing and costs.

Other Programs
Reverse Mortgages
Deferred Interest/Negative Amortization Loans
Home Equity Lines/Loans of Credit (HELOC's)
Construction-to-Perm Loans
Debt Consolidation Loans
Hard Equity Lines/Loans
Private Funding for Purchase Money Mortgages

**The bottom line is - - we do them ALL.  And if by chance we do NOT do the loan that is best for you...  we will tell you were to go (in a good way) to get your specific loan/program.  We are locals devoted to the locals - we aren't going anywhere... 

It's your home and your future.  It's our passion and our profession.