MAN NGUYEN, broker, msee
*All Real Estate & Mortgages, NiceLiving NiceCareer, AnCu LacNghiep*
Tel: +1.408.923.8951     Cell (Viber): +1.408.835.8811
Loan Term Definitions
There are many Mortgage Loan Terms to be described.
 
Followed are only some terms with simple definitions.
 
Fixed-Rate v.s. Variable or Adjustable-Rate Mortgage (ARM)
With a fixed rate, the interest rate remains consistent throughout the term of the loan. With an adjustable rate mortgage, the rate of the loan can change throughout the term of the loan. The rate of a loan is based on adding points to a fixed base.

Hybrid Home Loans
Usually these loans are fixed for a period of time and then become adjustable where it is dependant on current rates.
 
Balloon Home Loan
A balloon home loan is a real estate loan where there is a lump sum due at the end of the loan. This normally encourages an individual to refinance prior to the end of the term of the loan.

Conventional Loans v.s. Jumbo Loans
A conventional home loan is any residential loan not exceeding the guidelines of Fannie Mae and Freddie Mac. A jumbo loan is any residential or commercial loan exceeding the guidelines of Fannie Mae and Freddie Mac. See www.eFannieMae.com.
 
FHA Home Loans
An FHA loan is a loan in the United States that is insured by the Federal Housing Administration. See www.fha.gov.

VA Home Loans
A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA was designed to offer long-term financing to American Veterans or to their surviving spouses. See www.benefits.va.gov/homeloans.

Real Estate Mortgage Refinancing
Most people refinance their home to lower their rate, switch from an adjustable rate mortgage to a fixed mortgage, or to pull out money for many important reasons.
 
 
 
 
 


Loan Forms
Please download loan forms and a list of required documents, fill them out and return your loan application to us. We will determine if you qualify for a Loan Pre-Approval Letter. There is no cost for a loan pre-approval and no obligation to do a loan with us.
Click Home Loan Forms to download loan forms.


Tell Us
Please call 408-923-8951 for more information.

Timing is everything when financing or refinancing a home / property.

Click LOAN INFO REQUEST to tell us about your Loan Need.
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Realtheon
167 N. White Rd. • San Jose, CA 95127
Tel: +1.408.923.8951 • Cell (Viber): +1.408.835.8811

DRE # 01356627
NMLS # 445911, 451705
San Jose, Silicon ValleyMilpitasCampbell, Cupertino

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