At Alpine Mortgage, we have access to all of the programs available in our industry today. Mortgage programs are constantly evolving and there are many ways to structure them to meet your individual needs.

Contact a Mortgage Advisor at a local branch location to schedule a consultation with one of our Advisors to find out which programs best suit your current situation and will work into your overall financial plan.

Below you will find information on just some of the loan programs that Alpine has access to:

Adjustable Rate Mortgage

An adjustable rate mortgage (ARM) is a loan where the interest rate adjusts periodically based on the changes of a specified index, such as the one-year Treasury Bill or the LIBOR. If you plan on being in your home for a short period of time, an ARM loan can be an advantage for you since you may receive more money at a lower interest rate.

Fixed Rate Mortgage

A fixed rate mortgage is a loan where the interest rate does not change during the entirety of the loan. If you appreciate the peace of mind of a stable rate, this may be the loan for you. A fixed rate is best used when interest rates are low and expected to rise.

Government Funded Loan Products

FHA

The Federal Housing Administration (FHA) is the largest government insurer of mortgages in the world. A part of the United States Department of Housing and Urban Development (HUD), FHA provides mortgage insurance on single-family, multifamily, manufactured homes and hospital loans made by FHA-approved lenders throughout the United States and its territories. While borrowers must meet certain requirements established by FHA to qualify for the insurance, lenders bear less risk because FHA will pay the lender if a homeowner defaults on his or her loan. Alpine Mortgage is an FHA approved direct lender of this loan product.

One can apply for a Veterans Affairs (VA) loan with Alpine Mortgage as we participate in the VA home loan program. At some point, you will need to get a Certificate of Eligibility from Veterans Affairs to prove to the lender that you are eligible for a VA loan. Those eligible for a Veterans Affairs loan include: Veterans, Active duty personnel, Reservists/National Guard members, and some surviving spouses.

USDA

The United States Department of Agriculture (USDA) Rural Development program has a mission to increase economic opportunity and improve the quality of life for all rural Americans. USDA loan programs require no down payment from the borrower if qualified. Rural Housing Services offers affordable loans to qualified families or individuals who live in or want to move to eligible rural communities. To see what areas are eligible or if you will qualify for a USDA loan contact your Alpine Mortgage Advisor. You may also visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?NavKey=home@1.

Conventional Products

A conventional loan product is not a government backed product. An advantage of this product may be that it does not have to be insured.

Conforming and Non-Conforming

Conventional loans may be conforming and non-conforming. Conforming mortgage loans are those that are equal to or less than the dollar amount established by the conforming loan limit set by Fannie Mae and Freddie Mac's Federal regulator, The Office of Federal Housing Enterprise Oversight (OFHEO) and meets the funding criteria of Freddie Mac and Fannie Mae. The Housing and Economic Recovery Act of 2008 changed Fannie Mae's charter to expand the definition of a "conforming" loan. Two sets of limits are provided for first mortgages general conforming loan limits, and high-cost area conforming loan limits.

Jumbo Loans

A loan that exceeds the Fannie Mae legislated mortgage amount is considered a jumbo loan. Jumbos are also a non-conforming loan.

Other Products

Reverse Mortgages

Reverse mortgages allow for homeowners age 62 years and older to convert home equity into cash for whatever purpose they desire. The reverse mortgage is aptly named because the payment stream is "reversed". Instead of making monthly payments to a lender, the lender makes payments to you. We have several advisors who specialize in reverse mortgages, contact a local branch today.

This is not a commitment to lend. Prices and guidelines are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product make sure to compare loan types when making a financing decision.