Loan Programs
Which Mortgage is Right for You?
There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we're here to help you choose the best type of home loan for your needs.
Fixed Rate
A home loan with an interest rate that remains the same throughout the entire term, providing predictable monthly payments.
Adjustable Rate Mortgage (ARM)
A mortgage with an interest rate that may change periodically, based on market conditions, which can lower or raise monthly payments.
USDA
For buyers in rural areas. 100% financing, offering low or no down payment and reduced monthly mortgage insurance.
Reverse Mortgage
A loan for homeowners 62 or older, allowing them to convert home equity into cash without monthly payments, with repayment due when they move or sell the home.
Conventional Loans
Standard home financing options often requiring a solid credit history and stable income, offering flexible terms and competitive interest rates for buyers with stronger credit profiles.
FHA Home Loans
Home loans designed for buyers with smaller down payments or lower credit scores, making homeownership more accessible with flexible qualification standards.
VA Loans
Home loans for eligible veterans and active-duty service members, offering benefits like no down payment and no private mortgage insurance.
Jumbo Loans
Mortgages exceeding conventional loan limits, used to finance high-value properties, typically requiring higher credit scores and larger down payments.
Primary Residence
Designed for homes where borrowers live full-time. These loans often feature lower interest rates, smaller down payments, and relaxed qualification standards to encourage homeownership.
Second Home
Used to finance vacation or part-time residences. These loans typically require strong credit, a down payment of at least 10%, and proof the home won't be rented out.
Investment Property
For properties purchased to generate rental income or resale profit. They usually require higher credit scores, larger down payments (15–25%), and come with higher interest rates.
Non QM
Non-Qualified Mortgages cater to borrowers with unique financial situations, such as self-employed individuals. They allow alternative income verification methods but come with higher rates and fees.
Contact your Mountain State Financial Group professional for more information.
Main Office:
9035 Wadsworth Parkway Suite 3400
Westminster, CO 80021
Phone: (720) 838-1246
Bismarck Office:
1600 E Interstate Ave, Ste 4
Bismarck, ND 58503
Phone: (701) 955-0597
Fargo Office:
1630 1st Ave N Ste B
Fargo, ND 58102
Phone: (701) 425-2223
