MORTGAGE PROGRAMS

CONVERTIBLE ADJUSTIBLE MORTGAGE LOANS

The Convertible Adjustable Mortgage Loan is an Adjustable Rate Mortgage type that offers the borrower the option to convert the loan from an adjustable rate to a fixed rate at specified times during the term of the mortgage. This option is attractive to buyers who may wish to take advantage of current low interest rates, but want the security of a fixed rate mortgage in the future. The conversion is typically done for a nominal fee and requires almost no paperwork. The conversion interest rate is typically a little higher than the market rate at that time.

Benefits of Convertible Adjustable Mortgage Loans:

The conversion is typically done for a nominal fee and requires almost no paperwork.

Warning for Convertible Adjustable Mortgage Loans:

The conversion interest rate is typically a higher than the market rate at that time

Who should consider a Convertible Adjustable Mortgage Loan:

Buyers who plan to stay in their home for a long time
Buyers who believe home prices will increase in the future
Buyers who need a lower initial rate to afford to buy the home they want
Buyers who wish to take advantage of current low interest rates, but want the security of a fixed rate loan in the future.

Mortgage Programs

FHA Mortgage Loan

VA Mortgage Loan

RHS Mortgage Loan

30-Year Fixed Rate Mortgage

15-Year Fixed Rate Mortgage

Buy Down Mortgage

Balloon Mortgage

Graduated Payment Mortgage

Negative Amortization Loan

Adjustable Rate Mortgage

Convertible Adjustable Loan

Hybrid ARM Loan

Home Equity Loan

Home Equity Line of Credit

Reverse Mortgage

Jumbo Mortgage

Imperfect Credit Mortgage

Foreign National Mortgage


SouthFloridaLender.com and its contents are provided for informational purposes only and should not be construed as a legal or financial advice, or as formation of a broker and client relationship. As the mortgage market continually changes, the information provided can be either outdated or not suitable to your specific financial situation. For this reason, we strongly suggest to consult a mortgage broker, in the person, and discuss your specific needs.
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