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Delivering a digital mortgage application for our online "Savvy" clients and industry referral partners.
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Buying and Refinancing is easy with our professionals' help.
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Our ProQuote.Mortgage app is available in app stores Now!
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We have licensed mortgage professionals near you!
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VA Purchase and Streamline Refinance Mortgages are hot right now!
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Communication among Clients, First Equity, and industry referral sources is seamless!
Graduated Payment Mortgages
A graduated payment mortgage is a loan where the payment increases each year for a predetermined amount of time (such as 5 or 10 years), then becomes fixed for the remaining duration of the loan.
When interest rates are high, borrowers can use a graduated payment mortgage to increase their chances of qualifying for the loan because the initial payment is less. The downside of opting for an smaller initial payment is that the interest owed increases and the payment shortfall from the initial years of the loan is then added on to the loan, potentially leading to a situation called "negative amortization." Negative amortization occurs when the loan payment for any period is less than the interest charged over that period, resulting in an increase in the outstanding balance of the loan.
About Us
We've been helping customers afford the home of their dreams since 1987. We would enjoy and appreciate helping you.
Company NMLS:
www.nmlsconsumeraccess.org
Rate are subject to change any business hour with market fluctuations. All loan approvals are conditional, not guaranteed, and subject to lender review of all information. Loan is conditionally approved when lender has issued approval in writing, but until all conditions are met, the loan cannot be funded. Specified rates may not be available for all borrowers. First Equity Home Loan, Inc. is an Equal Opportunity Mortgage Lender/Broker, licensed as a consumer lender in Alabama, NMLS #204559
Read Our Reviews
"Andy Boes from Landon Jackson Realty worked with me for 3 years to find a house through several zip codes and finally we were able to find the perfect house. He was great to work with, always on time to appointments, easy going, and courteous. I'd highly recommend using Andy!" Kjell Adams