Portfolio Lending Group - The lowest mortgage rates in the US!

The right type of mortgage for you depends on many different factors:

Conventional vs. Government Loans

Any mortgage loan other than an FHA, VA or a USDA loan is conventional one.

FHA Loans
The Federal Housing Administration (FHA), which is part of the U.S. Dept. of Housing and Urban Development (HUD), administers various mortgage loan programs.

VA loans
Guaranteed by U.S. Dept. of Veterans Affairs. The guaranty allows veterans and service persons to obtain home loans with favorable loan terms, usually without a down payment.

USDA (RHS) Loans
The Rural Housing Service (RHS) of the U.S. Dept. of Agriculture guarantees loans for rural residents with minimal closing costs and no downpayment.

Our Easy 6 Step Loan Process

Underwriter Review/Assesment
Appraisal Process
Locking/Submitting File
Loan Conditions Clearing
Signing
Funding Loan

Mortgage Programs and Rates

All mortgage plans can be divided into two categories. Firstly, conventional and government loans. Secondly, all the various mortgage programs may be classified as fixed rate loans, adjustable rate loans and their combinations.

The right type of mortgage chiefly depends on how long you plan on staying in the house and the amount of monthly payment you can comfortably afford.

If you don't plan to stay in your house for at least 5 to 7 years, it will be reasonable to study an Adjustable Rate Mortgage, Balloon Mortgage or Two-Step Mortgage. ARMs traditionally offer lower rates during the early years of the loan than fixed-rate loans. A Two-Step Mortgage will give you a lower rate than a 30-year mortgage for the usual five or seven years. A Balloon Mortgage offers lower rates for shorter term financing, usually five or seven years. Because of a lower rate it is easy to qualify for these type of mortgages. However don't accept the ARM unless you can give the maximum possible monthly payment.

Generally, you can start to study 15 or 30 year fixed rate mortgages if you plan to stay in your house for more than five to seven years. Free personalized rate quotes for 30 Year Fixed Loans or 15 Year Fixed Loans can be requested on our website.

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