San Antonio Mortgage - No Down Payment Mortgage Loan

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Our Advice Makes The Difference Helen's Money Team offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide: Fixed Rate Mortgages The most common type of mortgage program where your monthly payments for interest and principal never change. Adjusted Rate Mortgages (ARM) These loans begin with an interest rate that is lower than a comparable fixed rate mortgage, but the rate changes at specified intervals. Standard ARMS and the Differences Choosing an ARM with an index that reacts quickly lets you take full advantage of falling interest rates. Introductory Rate ARM's Most ARM's have a low introductory rate, which is good anywhere from 1 month to as long as 10 years. Reverse Mortgages A special type of loan made to older homeowners to enable them to convert the equity in their home to cash to finance other needs. London Inter Bank Offered Rate (LIBOR) LIBOR is the rate on dollar-denominated deposits, also know as Eurodollars, traded between banks in London. Balloon Mortgages Short term mortgages that have some features of a fixed rate mortgage. Interest Rate Buydowns The buyer would pay points above current market points in order to pay a below market interest rate during the first two years of the loan. At the end of the two years the buyer would then pay the old market rate for the remaining term. Cost of Funds Index (COFI) The ratio of the dollar amount paid in interest during the month to the average dollar amount of the funds for that month constitutes the weighted average cost of funds ratio for that month. Graduated Payment Method (GPM) With a GPM the payments are usually fixed for one year at a time. Choosing The Best Program The right type of mortgage for you depends on many different factors



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $322,700 with closing costs of $6,454. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.