AS YOUR MORTGAGE PROFESSIONAL WE REPRESENT THE BORROWER NOT THE LOAN PROGRAM!

CROSSCOUNTRY Home Loans works with over 150 lenders. Lenders from all over the country send us daily rate quotes on their particular loan programs. However, many loan programs may not fit the particular needs of the borrower. That's why working closely with you, we are able to seek out the lending program that truly fits your needs, and not the lender's ! Our mortgage programs include a variety of financing options... competitive interest rates... personalized service... We realize that everyone is different. For us, nothing is more important than making sure you get the best loan in today's fast changing market.

There are several factors to consider when choosing a loan. Do you want the stability of a fixed rate, or are you willing to accept a little more risk in exchange for the lower initial rate of an adjustable mortgage? How long do you plan to stay in your home? How much do you want your monthly payment to be?

The following outlines the features and benefits of just a few of our many loan programs.

Fixed Rate Mortgages
The most common type of mortgage program where your monthly payments for interest and principal never change.

Adjustable Rate Mortgages (ARM)
These loans begin with an interest rate that is lower than a comparable fixed rate mortgage, but the rate changes at specified intervals.

Standard ARMS and the Differences
Choosing an ARM with an index that reacts quickly lets you take full advantage of falling interest rates.

Introductory Rate ARM's
Most ARM's have a low introductory rate, which is good anywhere from 1 month to as long as 10 years.

Reverse Mortgages
A Special type of loan made to older homeowners to enable them to convert the equity in their home to cash to finance other needs.

London Inter Bank Offered Rate (LIBOR)
LIBOR is the rate on dollar-denominated deposits, also know as Eurodollars, traded between banks in London.

Balloon Mortgages
Short term mortgages that have some features of a fixed rate mortgage.

Interest Rate Buydowns
The buyer would pay points above current market points in order to pay a below market interest rate during the first two years of the loan. At the end of the two years they would then pay the old market rate for the remaining term.

Cost of Funds Index (COFI)
The ratio of the dollar amount paid in interest during the month to the average dollar amount of the funds for that month constitutes the weighted average cost of funds ratio for that month.

Graduated Payment Mortgage (GPM)
With a GPM the payments are usually fixed for one year at a time.

Choosing The Best Program
The right type of mortgage for you depends on many different factors