Network Mortgage Services, Inc

Interest Rates

One of the first questions many customers ask is "What is your interest rate?" To entice them into making an application, many mortgage companies will immediately quote an extremely low rate that is achievable only in a very limited circumstance, only to disappoint the borrower when they are ultimately unable to deliver this quoted rate. Interest rates on mortgage loans vary depending on several factors; type, amount, length and credit history.

From the consumer’s point of view, and as your lender, we fully appreciate the importance of interest rates. We also understand that the interest rate is one element of a loan transaction and that in some instances the low interest rate quoted by the competition is compensated for by unusually high or unnecessary fees or is tied to loan program that simply does not meet the borrower's needs and, in many cases is simply not available. It is impossible to provide an accurate rate quote before we understand your specific situation or goals.

As you will see below in the Section on Loan Programs, we offer many different types of loan programs. If you are looking for a specific Loan Program or interest rate please contact us via telephone, fax, or email. Be assured we will work to achieve the best possible loan program and rate to suit your needs.

Once you’ve been in contact with one of our mortgage professionals, you’ll find that we provide you with a competitive, fair and realistic rate quote and the best loan program that is tailored to your individual, specific circumstances and needs.

Loan Programs

Network Mortgage offers a wide array of home loan packages that can be customized to fit your financial needs. Many of the loan products listed below carry a wide variety of options and flexibility. Your Network Mortgage Loan Officer can guide you to help determine which program is right for you.

· FHA and VA Fixed Rate programs

· FHA one-year ARM

· 5-year and 7-year Balloon mortgages

· Conforming 1-yr, 3-yr, 5-yr, 7-yr, and 10-yr ARM’s

· Conforming 15-year and 30-year Fixed Rate mortgages

· Jumbo 15-, 20-, and 30-year Fixed Rate mortgages

· Jumbo one-year, 3/1, 5/1, 7/1, and 10/1 ARM’s

· Interest Only financing for fixed rate and ARM loans

· Manufactured Housing loans

· Low Down Payment programs

· Loans for less-than-perfect credit

How do I choose the right Mortgage Program

There isn't a single or simple answer to this question. The right type of mortgage for you depends on many different factors:

· Your current financial picture.

· How you expect your finances to change.

· How long you intend to keep your house.

· How comfortable you are with your mortgage payment changing.

For example, a 15-year fixed-rate mortgage can save you many thousands of dollars in interest payments over the life of the loan, but your monthly payments will be higher. An adjustable rate mortgage may get you started with a lower monthly payment than a fixed-rate mortgage -- but your payments could get higher when the interest rate changes.

The best way to find the "right" answer is to discuss your finances, your plans and financial prospects, and your preferences frankly with your Network Mortgage professional.