Cenmark Mortgage is a direct lender and also has partnerships with hundreds of banks and financial institutions. This is all to bring our clients the most available loan options in the industry. Here are some of the programs we have available.
It’s important to decide what type of loan and which term is right for you. With so many programs available; you should carefully consider your options. Whether it’s a conventional loan, interest only, jumbo, or FHA program; the loan you choose should fit your budget, comfort level, and life style.
Fixed rate loan programs offer a set rate for the term of your loan. They also provide the confidence of a one monthly payment and easy budgeting.
ARM’s offer a low introductory rate for a period of time - usually 2,3,5,7, or 10 years. After this fixed period; the rate will reflect market conditions. This provides the flexibility of a much lower introductory payment and can allow you to ease into larger payments over time. ARM rates are usually much lower than fixed rates depending on market conditions.
Term defines the length of time you’ll be making monthly payments in order to repay your mortgage. We offer our residential loans in 10, 15, 20, or 30 year terms. We even offer terms up to 40 years! Longer terms allow you to spread out the repayment of your loan and therefore reduce your monthly payments. Shorter terms payoff your loan sooner; but require larger payments each month.
You should consider that longer term loans equal more interest paid over time. While shorter terms reduce the total amount of interest over time. Shorter terms can also offer reduced interest rates. However, with today’s record lows; its still possible to obtain great interest rates regardless of the term you choose.
Interest First provides the option of only having to make the interest portion of your monthly payments. This can be for both fixed and adjustable rate platforms. Interest first loans offer convenience or can help you deal with unexpected expenses during a single month.
Cenmark Mortgage Company offers low interest rate loans with ZERO Closing Costs. That’s right, you pay nothing. Contact Us today to find out how you can obtain a 100% NO CLOSING COSTS loan.
A longer term allows you to spread your payments over a longer period of time. This reduces your monthly payment and can be refinanced into a shorter term in the future. This is a good alternative to interest first options or an ARM. The 40 year term allows you to ease into a mortgage since your payments are reduced.
With our Jumbo Programs our loan amounts can go above $417,000. Our jumbo loan limits are up to $10,000,000 for a single purchase. We offer very low competitive jumbo rates, low fees and low down payment requirements. Many of our Jumbo Loans are available up to 95% of your home’s value or the purchase price.
- Single Family Homes
- 2, 3 and 4 Family Homes
- High Rise Condominiums
- Low Rise Condominiums
- Pre-manufactured Homes
- Time Shares
- Construction Properties
- Duplex or Twin
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- Co-Op Properties
- Adult Communities
- Townhouses
- Mobile Homes
- Vacation Homes
- Investment Properties
- Rehab Properties
- Mixed Use Properties
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Please see our Construction Loans page
Please see our FHA Loans page
* Speak to a Cenmark Mortgage Specialist to discuss options and loan terms that work best for you.
