Over eight years in business and a passion for helping our customers has made Downs Financial, Inc. an industry leader in the mortgage lending market. We take pride in our ability to offer diverse and timely loans to homeowners and potential buyers of all kinds and income brackets.
We've approved loans for $60,000, and we've approved multi-million dollar loans. Our philosophy is that just because you've got some credit blemishes that alone shouldn't determine your loan eligibility. We don't cater to one income group specifically because we believe that people from all different walks of life deserve the privilege of home ownership at affordable rates.
Our loan options are wide-ranging and varied. For purchases, we offer fixed and adjustable rate mortgages. Our fixed rate loans offer the advantage of stable monthly payment amounts. There are no surprises with these loans. You have the option of a 30-year fixed with a balloon payment at 15 years (30/15 loan). Or, you can enjoy stability throughout the life of the loan with 15, 20, and 30-year fixed rate loans, which promise the same monthly payments for the life of the loan.
Our adjustable rate mortgages, or traditional ARMs, offer flexibility for buyers. The 2/28 and 3/27 ARMs are both 30-year, fixed rate mortgages for the first term (two or three years) and then can adjust or stay the same based on the market for the remainder of the loan. Our 5/1 and 7/1 ARMs offer fixed rates for five or seven years and are more common with loans over $337,000. We also have no income verification loans and home equity loans in varying terms to help you secure your financial future and build upon your credit reputation.