This first mortgage is for the purchase money of a new home. The loan terms vary from ten to thirty years and can be a fixed or adjustable rate.

This first mortgage is based on the as-is value of the home. Any existing mortgages would be paid off and additional funds would be provided for a planned improvement or debt consolidation. The loan terms can vary from fifteen to thirty years and the rate is fixed during this time.

This first mortgage is based on the as-is value of the home. Any existing mortgages would be paid off and additional funds would be provided for a planned improvement or debt consolidation. The loan terms is typically thirty years and the rate adjusts during this time.

This mortgage is typically placed after the first mortgage. As-is property value is used but the allowable loan to value percentage is usually higher than on conventional first mortgages. The loan term can be between five and ten years and the interest rate is adjustable during this time. The borrower's minimum monthly payment is interest only on the current loan balance although principal can be paid down at any time. Additional funds can always be borrowed provided that the loan balance is below the maximum amount of the credit line.
This same loan can be based on the "as complete value" of the property to provide funds for significant home improvements (this loan is offered exclusively for construction clients of Airoom - "www.airoom.com").

Like the As-Complete Value First Mortgage, this loan is qualified today on the future value of your home after a significant improvement has been completed. This provides substantially more equity than would a conventional loan based on as-is value. Ideally suited when the terms of the existing first mortgage provide the greatest benefit for the borrower.

This loan is qualified today on the future value of your home after a significant improvement has been completed. This provides substantially more equity than would a conventional loan based on as-is value.