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Loan Programs

There are many loan programs available - too numerous to cover them all, we've highlighted the programs more commonly offered today. Characteristics of each loan program are unique, so consult your mortgage professional for more information and to become familiar with the details of the programs available to you.

To help determine the best loan program for you, consider the following:

  • How important is payment certainty? If knowing that your payment will be the same every month is important, consider a fixed-rate mortgage.
  • How important is rapid equity buildup? If rapid equity buildup is a factor, consider a shorter amortization period, such as a 15-year, fixed-rate mortgage.
  • Do you anticipate increasing or stable income? If income growth is anticipated, you could take advantage of a lower start rate on an ARM or a temporary buydown.
  • Other factors to consider include:
    • ability to qualify at market rates for loan amount selected
    • anticipated term of occupancy
    • possibility of significant rate changes
    • existence of up-front costs
Loan Programs Characteristics
15- and 30-Year Fixed-Rate Mortgages
  • Interest rate does not change.
  • Principal and interest (P & I) does not change.
  • Fixed-rate mortgages fully amortize over a defined period of time and are paid in-full at the end of the loan term.
  • Different loan terms are available (15- and 30-year terms are most popular).
  • The shorter the term, the faster equity is built and the loan is paid off.
Fixed-Rate Balloons
  • P & I payment and interest rate do not change.
  • Regular monthly P & I payments are based on 30-year amortization, while the unpaid balance (balloon) is due at the end of a shorter, predetermined term, typically 5, 7 or 10 years.
  • Interest rate is typically less than fixed-rate loans.
  • Most borrowers anticipate refinancing or selling prior to the end of the balloon term.
Fixed-Rate with Temporary Buydown
  • Borrowers or the seller may pay to temporarily "buy down," or lower, the interest rate.
  • Decreased interest rate reduces the monthly payment.
  • Lower interest rate may help borrowers qualify more easily; qualifying factors may vary.
  • Interest rate/payment is typically reduced for 1, 2 or 3 years
Interest-Only Mortgages
  • There are no reductions to the principal amount.
  • There is no provision for negative amortization.
  • Payments may increase up to an amortized amount, but the loan balance itself does not increase.
  • Generally, interest-only payments are limited to the first 5, 10 or 15 years of the loan.
  • After that, the loan is amortized for the remainder of its term
Adjustable-Rate Mortgages (ARMs)
  • There is potential for the interest rate/ payment to fluctuate.
  • ARMs transfer to borrowers a portion of the risk associated with a changing economy.
  • In exchange for sharing the risk, ARMs offer borrowers initial interest rates that are substantially lower than fixed-rate mortgages.
  • The lower interest rate may help borrowers qualify more easily; qualifying factors may vary.


Supreme Lending - 9514 Console Suite 101 - San Antonio, TX 78229
Office Phone: (210) 692-7500 Fax: (210) 692-7528 Cell Phone: (210) 421-3479
Toll Free Phone: 877-692-3863
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Loan product availability is subject to loan amount and qualification of borrower. Not every applicant qualifies or is eligible for every loan program. Some products may not be available in all states. Loan approval and rate are dependent on borrower credit, collateral, and financial history. All loan programs, terms and rates are subject to change without notice. Arkansas Mortgage Banker and Broker License #12046. Licensed by Department of Corporations under the California Residential Mortgage Lending Act License #4130655. Connecticut Mortgage Lender License - 1st: #196266, 2nd: #20111. District of Columbia Mortgage Dual Authority Licensee #MLB 6594. Florida Correspondent Mortgage Lender License #0702753. Georgia Residential Mortgage License #22114. Iowa Mortgage Banker/Broker License #MBK-2005-0240. Idaho Mortgage Broker/Lender License #MBL-6118. Illinois Residential Mortgage License #MB.6760323. Kansas Mortgage Company License #2006-5069. Louisiana Lender License #RML 1615. Maryland Lender License #11795. Michigan Broker License #FL-0012745. Minnesota Residential Mortgage Originator License #20618876. Mississippi License # ML/903941/2009. Missouri Residential Mortgage Licensee. Nebraska Mortgage Banker License #1965. New Mexico Lender/Broker License #1713. North Carolina Lender License #L-122702. North Dakota Money Broker License #MB101798. Ohio Mortgage Lender License #MB.803730. Oregon Lender License #ML-4265. South Carolina Supervised Lender License #S-5, 839. South Dakota Mortgage Lender License #4811. Tennessee Mortgage Banker/Broker License #3101. Texas Mortgage Banker Registration #45194 at 17290 Preston Road, Suite 300, Dallas, TX 75252. Utah Mortgage Lender License #5868484-MLCO. Licensed by the Virginia State Corporation Commission #MLB1329. Washington Consumer Loan License #520-CL-50148. Wisconsin Mortgage Banker License #214616. Wyoming Mortgage Lender License # 960. © 2009 Everett Financial, Inc. dba Supreme Lending. All rights reserved. © 2009 Everett Financial, Inc. dba Supreme Lending at 17290 Preston Rd., #300, Dallas, TX 75252. All rights reserved.

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