Single-family home loans with a maximum loan amount of $359,650 that is typically higher than FHA and VA loans with lower interest rates.
|Deed of Trust|
An instrument used in many states in place of a mortgage. The property is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary) and re-conveyed upon payment in full.
|Graduated Payment Mortgage (GPM)|
A type of flexible-payment mortgage where the payments increase for a specified period of time and then level off. This type of mortgage has negative amortization built into it.
Interest which is computed only on the principle balance.