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Which Loan is Right For You?

 
In the past every home owner got the same loan: a 30 year fixed mortgage. Today there are many different loan programs and choosing the right one could save you hundreds of dollars on your monthly payments.
  
 
How Long Do You Plan
On Living In The House?
We Recommend
Not Very Long (1-3 Years)      3/1 ARM
A few years (3-5 Years)      5/1 ARM
At least 5 years (5-7 years)      7/1 ARM
Around 10 years ( 7-10 years)      10/1 ARM, 30 yr. or 15 yr. fixed
A long time (10 plus years)      30 year fixed or 15 year fixed

Loan Programs
Advantages
Disadvantages
30 year Fixed
15 year Fixed
  • Monthly payments won't change
  • Interest rate Fixed
  • Protected if rates go up
  • Can refinance if rates go down
  • Higher interest rate
  • Higher monthly payments
  • Rate does not drop if interest rates improve
   
     
Adjustable Rate Mortgages (ARMS)
  • Lower initial monthly payment
  • Rate and payments may go down if rates improve
  • May qualify for higher loan amounts
  • Possible future interest rate risk
  • Payments may change over time
  • Might need to refinance in the future
   
     
Combo Loans with 2nd Mortgages
  • Lower down payment
  • No Mortgage Insurance (aka MI or PMI)
  • The option to waive your escrow account
  • Two mortgage payments to make each month
  • Depending on the program you select, you could have a balloon payment 15 years out
   
     
First Time Buyer Programs
  • Lower down payment
  • Easier to qualify
  • Sometimes you may get lower rate
  • May be subject to income and property value limitations
  • Higher upfront fees
  • Possible Mortgage Insurance (aka MI or PMI)
   
     
No point, No fee Programs
  • No closing costs
  • Less money required to close
  • Higher interest rates

 

   
 
 
In addition to conventional and jumbo loan programs we also offer a large number of specialized loans including VA & FHA government loans to fit your needs, please call or request online for more information.
 

 


 
 
 

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Need More information

Call Us: (800) 836-5210
Email Us: info@riverstonemortgage.com

 

WE ONLY LEND IN TEXAS

Normal Office Hours: Monday - Friday 9:00am - 5:00pm CST  |  Nights & Weekends by appointment.

 

NMLS Licenses (TX): All loans originated as Secure Financial Services, Inc. NMLS #70160 www.securemortgagecompany.com ; NMLS Branch #342399; by Justin S Navaretta NMLS #319843. Riverstone Mortgage Partners, LP DBA Riverstone Mortgage NMLS #319748. Robin Deanice Mattern Independent Contractor Processor for Kell Processing NMLS #292063/348289. Riverstone Mortgage is a Registered Service Mark.  All content on this website is copyrighted and may not be copied or reproduced in full or in part.

 

Rates shown are subject to market conditions and may change at any time without notice. Your rate may only be locked by a licensed loan officer. Call 1-800-836-5210 to execute a rate lock. Not everyone will qualify. Rates shown are for a: conforming, purchase, primary, single family residence, in Texas, with >/=25% down payment, $275,000 loan amount, full income, full asset, full employment documentation, >740 middle credit score, with an escrow account, 30 day lock, without a second lien.