Manoj Bhatia

Which Loan is Right For You?

In the past every home owner got the same loan: a 30 year fixed mortgage. Today there are many different loan programs and choosing the right one could save you hundreds of dollars on your monthly payments.

How Long Do You Plan On Living In The House?	We Recommend:
Not Very Long (1-3 Years)	3/1 ARM, 1 year ARM or 6 month ARM
A few years (3-5 Years)	5/1 ARM
At least 5 years (5-7 years)	7/1 ARM
Around 10 years ( 7-10 years)	10/1 ARM, 30 yr fixed or 15 yr fixed
A long time (10 plus years)	30 year fixed or 15 year fixed

Loan Programs	Advantages	Disadvantages
30 year Fixed 15 year Fixed	Monthly payments won't change Interest rate Fixed Protected if rates go up Can refinance if rates go down	Higher interest rate Higher mortgage payments Rate does not drop if interest rates improve
Apply now!
Adjustable Rate Mortgages (ARMS)	Lower initial monthly payment Lower payment over a shorter period of time Rates and payments may go down if rates improve May qualify for higher loan amounts	More risk Payments may change over time Potential for high payments if rates go up
Apply now!
Balloon Mortgages	Lower initial monthly payment Lower payment over a shorter period of time Many balloon mortgages offer the option to convert to a new loan after the initial term.	Risk of rates being higher at the end of the initial fixed period Risk of foreclosure if you cannot make balloon payment or if you cannot refinance or if you cannot exercise the conversion option
Apply now!
First Time Buyer Programs	Lower down payment Easier to qualify Sometimes you may get lower rate	May be subject to income and property value limitations Some programs which have government subsidies may have a recapture tax if you sell the house too early.
Apply now!
No point, No fee Programs	No closing costs Less money required to close	Higher rates Higher payments
Apply now!
Home Equity Line of Credit	You only borrow what you need Pay interest only on what you borrow Flexible access to funds Interest may be tax deductible	Rates can change. The maximum interest rate is normally high. Payments can change Harder to refinance your first mortgage
Apply now!
Home Equity Fixed Loan	Fixed payments Interest may be tax deductible	Higher interest rates than on 1st mortgages Harder to refinance your first mortgage
Apply now!

In Addition to these standard loan programs we offer a large number of specialized loans to fit your needs please call or email for more information.

Purchase a home with Zero Money Down
Piggyback loans 80-10-10 or 80-15-5. No PMI payments even with 5% or 10% down.
Debt consolidation programs
Home Improvement loans
Qualify with low fico score or even if you've been turned down before!

call for a loan now: (832) 692-9764 Secure Mortgage Company, NMLS #70160

Equal Housing Opportunity • Secure Mortgage Company, NMLS #70160 • mbhatia@securemortgagecompany.com • 825 Town and County Ln, Suite 1200 #17 Houston, TX 77024
Privacy Policy •

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.

THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”

https://www.nmlsconsumeraccess.org/

Free Consultation

(832) 692-9764