We have several programs tailored for first-time homebuyers, including FHA loans, low down payment options, and assistance programs.
In Financing Achieved
FHA Loans
Backed by the Federal Housing Administration, these loans are designed for first-time homebuyers or those with lower credit scores
VA Loans
Available to veterans, active-duty service members, and eligible spouses, VA loans are backed by the U.S. Department of Veterans Affairs.
Jumbo Loans
A jumbo loan is for homebuyers purchasing properties that exceed conventional loan limits.
Understanding your mortgage options is key to making informed decisions about your financial future. At Oak Leaf Finance, we simplify the complexities of home loans to help you find the best fit for your needs. Here’s an overview of the most common mortgage types and how they work.
A fixed-rate mortgage is one of the most popular loan types, offering consistency and predictability.
How It Works:
The interest rate remains the same throughout the life of the loan.
Monthly payments are predictable and stable.
Best For:
Homebuyers planning to stay in their home for many years.
Those who value consistency in their budgeting.
An adjustable-rate mortgage starts with a fixed interest rate for an initial period and then adjusts periodically based on market conditions.
How It Works:
Initial rate is typically lower than a fixed-rate mortgage.
After the introductory period (e.g., 5, 7, or 10 years), the rate adjusts annually.
Best For:
Buyers who plan to sell or refinance before the rate adjusts.
Those comfortable with potential fluctuations in payments.
