What’re the FHA loans?

In FHA loans, the FICO score is evaluated in 98% of cases, but a 12-month payment record can be established using nontraditional methods of payment (e.g. phone bill).

The FHA loan interest rates available may be comparable to those offered to conforming borrowers with traditional home loans.

What is fixed rate?

The combined Principal and Interest payment does not change; however, the amount directed towards the principal increases from month to month causing the amount paid towards interest to decrease. The homeowner will pay the most interest with their first mortgage payment and the least interest with their last mortgage payment.

What’re the FHA loans?

It is our privilege to offer the VA Loan program to our esteemed military veterans. The rules for qualification are set by the U.S. Department of Veteran Affairs (VA) and include financing up to 100% of the purchase price of the home. Eligible military clients can apply for a VA loan with Intercorp Mortgage Solution.

What’re the ARM loans?

An Adjustable Rate Mortgage (ARM) has a starting interest rate that is fixed for a predetermined period of time and then at the end of that period, the rate fluctuates for the remaining term of the loan. This often has lower monthly payments, and it also has a ceiling above which payments cannot go.

The Fixed Rate Period can last for a variety of different time periods: 1, 2, 3, 5, 7 or 10 years depending on what loan best suits your situation. Most ARMs have a total term of 30 years.