Borrowers typically know about 30- and 15-year fixed rate mortgage loans, yet there are dozens of different loan types beyond just those. 

Mortgage planning, like financial planning serves many needs. Our mission is always to tailor the right mortgage program or strategy to best suit the overall goals of our clients.

Do you need the lowest possible housing payment to maximize other investments?

• A 30-year fixed rate loan will probably help.

Do you need to leverage potentially tax-advantaged funds to pay for major home improvement?

• A cash-out refi and home equity line of credit are just two possibilities.

Are you looking for a way to avoid private mortgage insurance or jumbo loan rates?

• A small second mortgage closed simultaneously with the first may be the solution.

Customized Loan Solutions That Meet Your Needs

Greenway Mortgage offers a variety of other loan options to suit the needs of each and every client whether they are looking to buy their first home, move up, refinance, or invest. Some loan options include VA, USDA, FHA, Conventional, Down Payment Assistance, Reverse, Refinance, Renovation, Jumbo, and more. Information on these can be found by visiting our Loan Product page here.

With personalized attention and unmatched expertise, Greenway Mortgage can help customers find the right financing option. Our technology facilitates a low stress, streamlined and paperless workflow that expedites the loan process in a low-pressure sales environment. Our dedicated and knowledgeable loan consultants are available throughout the process.

Contact us today to see what loan option best suits your specific goals.

The Fed announced another hike.

As expected, the Fed raised policy rates by 0.25% at their February meeting. This is the smallest increase of the eight made in the last 11 months.

More "interesting" is the Fed's signal regarding future increases.

The Fed statement released after the meeting hinted that ongoing rate increases are anticipated before inflation is brought to the Fed's target of 2.0%. Investors were hoping the Fed would back off of that sentiment.

Please Note: Mortgage rates are impacted by market forces beyond Fed actions and will not necessarily change at the same pace as the Fed's moves. They often shift before the Fed acts, in anticipation of their changes.

Should the Fed's news change your home financing plans?

If this is your time to purchase a home or access cash from equity, don't let rates stop you.

Let's find a way to work within the framework of the current environment. Options like hybrid ARMs, buydowns and HELOCS can help.

Background on the Fed:

• The Federal Reserve Board (the Fed) controls the federal funds rate and discount rate, which are charges for overnight loans from bank to bank or from the Fed to member banks.
• The rate was lowered to near zero in March 2020 in response to the pandemic. These historic measures are now being reversed.

This is the eighth increase since March 2022.

Bottom Line:

Don't let interest rates hold you back from making a move or accessing cash. We're still closing loans every day!