Reliable Mortgage has many loan products designed to meet a variety of needs. Let our experienced Mortgage Advisors assist you in choosing the program that is best for you.  View some of our recommendations.

Payment is fixed and predictable for a long period of time. Better for those with good credit.

Advantages Maximum interest deduction for taxes Sometimes easier to qualify Stable, predictable payments Lower down payment Possible secondary financing if needed

Disadvantages Pay more interest over the life of the loan Higher starting interest rate Lower debt ratio ? need higher income to qualify Higher monthly payment

The rate is fixed for the first 5 or 7 years, then shifts to an adjustable rate mortgage (ARM).

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When you need the lowest possible rate to qualify, an adjustable rate may be the answer. Beginning with a low start rate, this loan will adjust either every 6 or 12 months, depending on program and grade. It is based on the economy 6% ceiling for prime and 7% ceiling for sub-prime.

Advantages Lowest starting interest rates help qualify for higher loan amounts Good if planning to sell within 3 years Best if you expect your income to increase Good rates

Disadvantages Periodic rate increases Builds equity slowe

This version of the ARM features a fixed rate for the first 2 or 3 years, then shifts into a 6-month adjustable rate mortgage. It is a sub-prime program giving you a rate lower than a sub-prime 30-year fixed. You will then want to refinance this loan.

Advantages Good for those with less than perfect credit Allows for a window of time to rebuild credit Can refinance after rebuilding

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If you are moving in the first few years of your mortgage or need the lowest possible rate to qualify, a balloon mortgage could be for you. Some balloon programs may be converted to an adjustable or fixed rate after the 5 or 7 years, with very low fees and an attractive interest rate.

Advantages Great for refinancing from a higher rate when planning a move in 5-7 years Lower starting rate than 30-year fixed Some are convertible to 30-year fixed or a treasury ARM Low fees Good rates

Disadvantages Loan balance due can change long-term financial planning Lower starting rate than 30-year fixed Planning to stay in home over 7 years