Get Mortgage Loans in Scottsdale, AZ, and Surrounding Area

  • HMC Enterprises AZ - Stephen Robin - Types of LoansFixed Rate Loans—An excellent way to lock into a low interest rate for the life of your loan.
  • Adjustable Rate Mortgages (ARM’s)—The flexible loan, with lower initial rates and payments.
  • Initial Fixed Rate Loan—Start with a rate generally lower than standard fixed rate loans.

 

30 Year Fixed Rate

Borrower Goals Loan Parameters
  • Plan to live in the property over 10 years
  • Interest rate & monthly payment remain the same for 30 years
  • Like total payment stability

15 Year Fixed Rate

Borrower Goals Loan Parameters
  • Plan on staying in property over 10-15 years
  • Interest rate & monthly payment remain the same for 15 years
  • Want to pay off property faster than 30 years
  • Lower interest rate than 30 year loan

10/1 Year Semi-Fixed

Borrower Goals Loan Parameters
  • Plan to live in property approximately 10 to 12 years
  • Interest rate & monthly payment fixed for the first 10 years
  • Like initial payment stability, can accept interest rate change later
  • Starting the 11th year, interest rate adjusted every year, so payment is subject to change every year for remainder of loan

7/23 (2-Step) or ’30/7 + 23′

Borrower Goals Loan Parameters
  • Plan to live in property approximately 7 to 8 years
  • Interest rate & monthly payment fixed for the first 7 years
  • Can tolerate one payment adjustment
  • Conversion option: On the 8th year, interest rate adjusted to reflect prevailing fixed interest rates, resulting payment will remain the same for remainder of loan

7/1 Year Semi-Fixed Rate

Borrower Goals Loan Parameters
  • Plan to live in property approximately 7 to 8 years
 
  • Interest rate & monthly payment fixed for the first 7 years
  • Like initial payment stability, can accept change later
 
  • Starting the 8th year, interest rate adjusted every year, so payment is subject to change every year for remainder of the loan

5/25 (2-Step) or ’30/5 + 25′

Borrower Goals Loan Parameters
  • Plan to live in property approximately 5 to 6 years
  • Interest rate & monthly payment remain fixed for the first 5 years
  • Can tolerate one payment adjustment
  • Conversion option: On the 6th year, interest rate adjusted to reflect prevailing fixed interest rates, resulting payment will remain the same for remainder of loan

5/5 & 5/1 Year Semi-Fixed Rate

Borrower Goals Loan Parameters
  • Plan to live in property approximately 5 to 6 years
  • Interest rate & monthly payment remain fixed for the first 5 years
  • Like initial payment stability, can accept later changes
  • Starting the 6th year, interest rate adjusted every 5 years(for 5/5 ARM) and every year (for 5/1 ARM)

3/3 & 3/1 Year Semi-Fixed

Borrower Goals Loan Parameters
  • Plan to live in property 3 years or less
  • Interest rate & monthly payment remain fixed for the first 3 years
  • Like initial payment stability, can accept later changes
  • Starting 4th year, interest rate adjusted every 3 years (for 3/3 ARM) and every year (for 3/1 ARM)

Adjustable Rate Loans

Borrower Goals Loan Parameters
  • Want to take advantage of lowest rate possible
  • Interest rate adjusted every year, so monthly payment is subject to change every year for entire 30 year loan term
  • Are willing to accept yearly payment changes OR
  • Cannot qualify at higher rate programs
  • Potential higher payments (at maximum interest rate)