• Refinance Home Loans
• Refinance Cash Out
• Refinance Home Improvements
• Home Purchase Loans

Loan Programs

With so many loan choices, how do you pick the right one?  This section highlights the loans we offer at Downs Financial, so that you can compare and decide which one fits best into your financial future.

Fixed Rate Mortgages

Enjoy stable monthly payments.

30/15

• Rate and payment fixed as a 30 year term but has a balloon payment at the end of 15 years (note comes due)

15, 20 and 30 year fixed

• The rate is fixed for entire term of the loan offering stability throughout the entire term of the loan

Traditional ARMs (Adjustable Rate Mortgages)

Start with the stability of a fixed-rate mortgage then convert to the flexibility of an ARM.

2/28 ARM

• 30 year mortgage with the interest rate fixed for 2 years and then can stay the same or adjust up depending on the market.  Offers the lowest interest rate right now.  Great for rebuilding your credit while getting the lowest rate available to you.

3/27 ARM

• Same as above but rate is fixed for 3 years and then adjusts.

5/1 and 7/1 ARM

• 30 year mortgages with rates fixed for 5 or 7 years.  Very common with jumbo size loans (over 337,700).

No Income Verification Mortgages

• Great for self-employed individuals.

Home Equity loans (second mortgages)

• Terms from 10 to 20 years including 30/15 (offers lowest payment available)