Nebraska Mortgages

There are many Nebraska mortgages to choose from, from Nebraska Interest Only options, to Nebraska Fixed Rate Mortgages. Nebraska Interest Only Loans are great if your home is in an area that is appreciating at a rapid pace, if you have a sizable amount of equity in your home, if you have a lot of investments, or if you are expecting to earn a larger income in the future. Nebraska Interest Only Loans allow borrowers to pay interest only monthly payments for a specified introductory period, usually 3, 5, 7, or 10 years. Nebraska Interest Only Loans offer substantially lower payments at the start of the loan than do other loans which have principal and interest figured in. After the initial interest only period, the principal balance originally borrowed is due in full with interest and is set up in a fully amortized payment program.

Nebraska Adjustable Rate Mortgage (ARM) products typically offer borrowers lower interest rates than Nebraska Fixed Rate Mortgages and enable borrowers to purchase more home than they could otherwise afford. Nebraska Adjustable Rate Mortgages are popular with first time home buyers and buyers planning to stay in their homes for only a short period of time. Nebraska ARM (adjustable rate mortgage) products are based on an economic index and a margin. Common indices used are: LIBOR, COFI, and the MTA index. It is important to understand the index and margin tied to your loan so you understand the ability for the loan to increase in the future. Some indices are more volatile than others. Common loan terms for Nebraska Adjustable Rate Mortgages (ARMs) are 3/1, 5/1, 7/1, and 10/1. The first number in the set indicates how long the introductory interest rate is fixed. The second number indicates how often after the initial period the loan will adjust. (For example in the 3/1 ARM, the introductory interest rate is fixed for the first 3 years of the loan, and the 1 indicates the loan will adjust once/year after the first three years). Call today to speak to a representative about your options for a Nebraska mortgage 1-877-673-3282.