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Check Loan Payments
loan amount
Rate Points APR Payment
FHA 30 Year Fixed
6.375% 0.0 6.420% $0
CRA 40 Yr Fixed Conventional
6.250% 0.0 6.288% $0
CRA 30 Year Fixed Conventional
6.125% 0.0 6.169% $0
Agency Jumbo 30 Yr Fixed
6.500% 0.0 6.546% $0
7 Yr Jumbo
5.875% 0.0 5.919% $0
7 Yr Conventional
5.875% 0.0 5.919% $0
5 YR Conventional and Jumbo
5.750% 0.0 5.793% $0
30 Yr VA FIxed
6.375% 0.0 6.420% $0
30 Yr Fixed Conventional
6.250% 0.0 6.295% $0
Conforming 30 Year Fixed
6.750% 0.0 6.750% $0
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Testimonials
This is my fourth transaction with Greg. He is very smart, personable, and trustworthy.
—Ellen Cosgrove--Maryland.
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Loan Options

There are so many diferent variations of and names of mortgage options today that I simply cannot list all of them. Keep in mind that Fixed and Adjustable Rate Mortgages the basic mortages. Of these two, lenders have come up with countless variations.

  • Fixed Rate Mortgages—An excellent way to lock into a low interest rate for the life of your loan. The rate and terms are fixed and constant for the life of the loan.
  • Adjustable Rate Mortgages (ARMs)—The flexible loan, with lower initial rates and payments. At some point in time the rate will adjust thus changing the payment and possibly the loan term.  The rate, term and payment are not constant and can change based on the loan terms etc.
30 Year Fixed Rate
Appropriate for borrowers who: Loan Parameters
• Plan to live in the property over 10 years
• Like total payment stability
• Interest rate & monthly payment remain the same for 30 years


15 Year Fixed Rate
Appropriate for borrowers who: Loan Parameters
• Plan on staying in property over 10-15 years
• Want to pay off property faster than 30 years
• Lower interest rate than 30 year loan
• Interest rate & monthly payment remain the same for 15 years


10/1 Year semi-fixed
Appropriate for borrowers who: Loan Parameters
• Plan to live in property approximately 10 to 12 years
• Like initial payment stability; can accept interest rate change later
• Interest rate & monthly payment fixed for the first 10 years
• Starting the 11th year, interest rate adjusted every year, therefore, payment is subject to change every year for remainder of loan


7/23 (2-Step) or '30/7 + 23'
Appropriate for borrowers who: Loan Parameters
• Plan to live in property approximately 7 to 8 years
• Can handle one payment adjustment
• Interest rate & monthly payment fixed for the first 7 years
• Conversion option: On the 8th year, interest rate adjusted to reflect prevailing fixed interest rates. Resulting payment will remain the same for remainder of loan


7/1 Year semi-fixed rate
Appropriate for borrowers who: Loan Parameters
• Plan to live in property approximately 7 to 8 years
• Like initial payment stabilityand can handle change later
• Interest rate & monthly payment fixed for the first 7 years
• Starting the 8th year, interest rate adjusted every year, so payment is subject to change every year for remainder of the loan


5/25 (2-Step) or '30/5 + 25'
Appropriate for borrowers who: Loan Parameters
• Plan to live in property approximately 5 to 6 years
• Can handle one payment adjustment
• Interest rate & monthly payment remain fixed for the first 5 years
• Conversion option: On the 6th year, interest rate adjusted to reflect prevailing fixed interest rates. Resulting payment will remain the same for remainder of loan


5/5 & 5/1 Year semi-fixed rate
Appropriate for borrowers who: Loan Parameters
• Plan to live in property approximately 5 to 6 years
• Like initial payment stability, can accept later changes
• Interest rate & monthly payment remain fixed for the first 5 years
• Starting the 6th year, interest rate adjusted every 5 years(for 5/5 ARM) and every year (for 5/1 ARM)


3/3 & 3/1 Year semi-fixed
Appropriate for borrowers who: Loan Parameters
• Plan to live in property 3 years or less
• Like initial payment stability, can accept later changes
• Interest rate & monthly payment remain fixed for the first 3 years
• Starting 4th year, interest rate adjusted every 3 years (for 3/3 ARM) and every year (for 3/1 ARM)


Adjustable rate loans
Appropriate for borrowers who: Loan Parameters
• Want to take advantage of lowest rate possible
• Are willing to accept yearly payment changes OR
• Cannot qualify at higher rate programs
• Interest rate adjusted every year, so monthly payment is subject to change every year for entire 30 year loan term
• Potential higher payments (at maximum interest rate)
  Greg Darlin, Choice Finance
6001 Montrose Road Suite 704
Rockville, MD 20852
Phone (301) 806-4979
Fax (866) 879-6165

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