Fixed Rate Loan Highlights & Benefits

Celebrity Mortgage is proud to offer some of the very best fixed mortgage interest rates available in the nation and we are driven to ensure that you are completey informed throughout the entire loan process. It is our goal to deliver peace of mind with every transaction, every time.

Fixed Mortgage Rates

Fixed mortgage rate offers uniform payment throughout life of loan. Consistent payment makes it easier to budget. Added security and stability from market fluctuations On fully amortizing fixed rate mortgage products, the amount of principal that is paid down grows each month - while the payment remains the same. Easier to understand than variable rate products.

What are Adjustable Rate Mortgages & How Do They Work?

Adjustable rate mortgages, often referred to as “arms”, may have a fixed period of time where the rate is lower than traditional 15 - 40 year fixed rate products. Upon completion of the initial fixed-rate period, the rate begins to adjust up or down based upon the value of an assigned index. Thus, if you are looking for a low initial payment and only plan to be in a home for ten years or less, an adjustable rate mortgage might be a good decision.

Advantages vs. Disadvantages – Adjustable Rate Mortgage Information

It is very important to research adjustable rate mortgage information and weigh the pros and cons. Although you save money by locking in on a lower rate initially, you have to weigh the risk of a potential hike in interest rates. It is a matter of individual risk tolerance. Typically, the shorter the fixed period of an arm, the lower the rate.

You may want to ask yourself a few questions before pursuing an adjustable rate loan:

How long do I plan to be in the home? Will I be able to cover higher payments if the rate increases? How much will I save with an ARM? How could those savings help me and my family with other needs? Could an adjustable rate mortgage help me afford a more expensive home and do I believe that my future income will cover the risk of future adjustments in rate? Is taking out a adjustable rate mortgage in a declining market a good idea?

Celebrity Morgage Rate Quote Request Current Mortgage Rates

Loan Amount: Home Value:

Loan Program 30 Year Fixed 15 Year Fixed 40 Year Fixed 25 Year Fixed 20 Year Fixed 10 Year Fixed 10 Year ARM 7 Year ARM 5 Year ARM 3 Year ARM 2 Year ARM 30 Year Fixed Interest Only 10 Year ARM Interest Only 7 Year ARM Interest Only 5 Year ARM Interest Only 3 Year ARM Interest Only Unsure-Need Advice

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Loan Purpose Purchase, Under Contract Purchase, Still Looking Refinance, No Cash Out Refinance, Take Cash Out Construction - Currently Unavailable

Property Type Single Family-Detached Townhouse Condo Duplex Triplex Quadplex 5+ Units Commercial Manufactured Home - Currently Unavailable Lot-Land Loan - Currently Unavailable

Occupancy Type Primary Residence Second Home Investment Property

Credit Rating Over the Top - Over 740 Very Good - 720 to 739 Good - 700 to 719 Reasonable - 680 to 699 Fair - 660 to 679 Needs Some Work - 620 - 659 Needs Much Work - Below 620

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Jumbo Loan Programs

The term jumbo mortgage loan refers to any loan that is higher than the maximum dollar amount established in Fannie Mae and Freddie Mac's guidelines. At this time, any loan for a single family property greater than $417,000 is considered a jumbo loan. The limits increase to $533,850 for two-unit properties, $645,300 for triplexes and $801,950 for 4-unit homes. There are also many areas of the country where the limits are set higher. One of Celebrity Mortgage's loan experts can help you determine the conforming loan limits for your area. Loans that exceed $650,000 are typically considered super jumbo loans.

Jumbo Loan Highlights:

Great selection of fixed rate mortgage and adjustable rate programs. Some of the lowest 5/1 and 7/1 jumbo ARM pricing in the marketplace. Access to the rates and programs of a select group of the Nation’s premier wholesale investors.

Investment Property Mortgage Assistance

Put your money to work for you in an investment property. With today’s low mortgage rates and rising real estate prices it is an ideal time to invest in real property. Investment properties provide a vehicle that allows you to enjoy the potential for market appreciation while building equity each month. Whether you are purchasing or refinancing a single or multi-family home, townhouse, or condo Celebrity Mortgage can help you find the right investment property financing option.

Why Choose Celebrity Mortgage for Your Next Investment Property Loan

25% downpayment required on all of our lenders' great investment property financing products. Great low rates for the life of your investment property mortgage. Fair and reasonable closing costs. Fixed rate mortgage and adjustable rate investment property financing solutions. Programs available for self employed borrowers and owners of numerous properties. Programs for 1-4 unit properties.

Interest Only Mortgage Programs

Interest only loans allow you to keep your monthly payments low by only requiring the repayment of interest over a predetermined period of time. During this initial period, finances that would go towards paying down the principal on your loan are freed up to be put to use elsewhere. Many people choose these products for paying off debts with higher interest rates, reallocating money to alternative investment vehicles or simply to allow the purchase of a higher priced home. These types of loans are also very popular in areas where real estate prices are on the rise and homeowners are gaining equity without having to pay down principal. There are a wide range of interest only home loan products to choose from. These products offer many benefits and are subject to a varying degree of risk. Certain states do not allow interest only loans so be sure to check with an Celebrity Mortgage mortgage originators to see if an interest only mortgage is an option in your area.

Interest Only Home Loan Benefits:

Lower monthly payments. Increased financial flexibility. Ability to purchase more expensive home.

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