NMLS #2376

Home Loan Programs

Home Loan Nebraska | Home Loan Iowa

Below is a listing of types of mortgages. However, not all of these mortgage products are offered by Eagle Mortgage Company. Contact us to find out more about our offerings. 

Fixed-Rate Mortgages (FRM)

The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

Adjustable Rate Mortgages (ARM)

Adjustable-rate mortgages include interest payments that shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.

Hybrid ARMs (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)

Hybrid ARM mortgages combine features of both fixed-rate and adjustable-rate mortgages and are also known as fixed-period ARMs.

HARP 2.0

HARP 2.0 is a refinance option for homeowners that are "underwater," meaning they owe more on their home than their home is worth.

FHA Loans

FHA loans are mortgages that are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment. These loans are especially attractive to first-time home buyers.

VA Loans

A VA loan is a mortgage guaranteed by the Department of Veteran Affairs. VA loans offer military veterans exceptional benefits, including low-interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of homeownership.

USDA Loans

A USDA home loan is a zero down payment mortgage for eligible rural and suburban homebuyers. USDA loans are issued through the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of Agriculture.

Jumbo Loans

Jumbo home mortgages are best suited for families looking to purchase a large or luxury home that exceeds the limits of a standard-conforming mortgage loan. For most areas of the US, the limit on a conforming mortgage is $424,100 (for 2017). For areas of the country with high costs of living, the limit may be as high as $636,000.

Interest-Only Mortgages

Interest-only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specified period of time.

Components of an ARM

Prior to choosing a home loan, you should know the advantages and risks of adjustable-rate mortgages to make an informed, prudent decision.

Commonly Used Indexes for ARMs

This article includes a list of the most commonly used indexes by ARM lenders that affect ARM mortgage rates.

Balloon Mortgages

Balloon mortgages include a note rate that remains fixed initially, and the principal balance becomes due at the end of the mortgage term.

Reverse Mortgages

Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.

Graduated Payment Mortgages

Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and become fixed for the remaining duration of the loan.

What kind of home loan program is best for you?

Should you get a fixed-rate or adjustable-rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer.

If you are interested in getting started on a home loan, start your free application today.

 

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