Loan Programs

Whether you're looking to refinance, pay off high interest credit cards, or do home improvements, Loan-Rep.com has the loan that fits your needs. We work twice as hard to make sure that our loans accommodate your needs, and not the other way around. Our priority is to fund your loan and to reward you with considerable savings in the process. While we offer the lowest rates and most competitive fees available, we adhere to our strict policy of providing premium loan programs for all our customers.

                               Here are just a few of our loan programs

Fixed Rate Mortgages

30 year fixed

15 year fixed

• Monthly payments are fixed over the life of the loan
• Interest rate does not change
• Protected if rates go up
• Can refinance if rates go down

• Higher interest rate
• Higher mortgage payments
• Rate does not drop if interest rates improve

Adjustable Rate Mortgages

10/1 ARM

7/1 ARM

3/1 ARM

1 year ARM

6 month ARM

1 month ARM

• Lower initial monthly payment
• Lower payment over a shorter period of time
• Rates and payments may go down if rates improve
• May qualify for higher loan amounts

• More risk
• Payments may change over time
• Potential for high payments if rates go up

Zero Down Purchase Loan

• No down Payment
• Less out of pocket expense
• May even qualify for no PMI

• Higher rates
• Higher payments

Piggyback Loans

80-10-10

80-15-5

• No PMI payments even with 5% or 10% down
• Less out of pocket expense
• Easier to qualify than 0 down loans

• Financing two loans
• Rate on second loan may be higher
• Second may carry prepay penalty

Debt Consolidation Programs

• Payoff high interest credit cards and loans
• One low monthly payment instead of several 
• Interest on debts are now tax deductible (please consult with your tax advisor) 

• Borrowing against value of property

Balloon Mortgages

7 year

5 year

• Lower initial monthly payment
• Lower payment over a shorter period of time
• Many balloon mortgages offer the option to convert to a new loan after the initial term.

• Risk of rates being higher at the end of the initial fixed period
• Risk of foreclosure if you cannot make balloon payment or if you cannot refinance or if you cannot exercise the conversion option

First Time Buyer Programs

• Lower down payment
• Easier to qualify
• Sometimes you may get lower rates

• May be subject to income and property value limitations
• Some programs which have government subsidies may have a recapture tax if you sell the house too early.

Stated Income Programs

• Don’t need to verify income
• Faster approval

• Higher rates
• Higher down payment

No point, No fee Programs

• No closing costs
• Less money required to close

• Higher rates
• Higher payments

Imperfect Credit Programs

• Potential for reestablishing credit if you pay your mortgage on time.
• When used for debt consolidation, you may be able to reduce your monthly debt payment

• Higher rates
• Terms may not be as favorable
• Harder to get long term fixed loans
• Loans may have prepayment penalties