What Type Of Residential Loan Programs Does RED I Offer?

Fixed Rate Mortgages
This is the safe and secure loan option. The interest rate on your loan is fixed for the life of the mortgage so your monthly payments never change. Loans fixed for 15, 20 and 30 years are available at RED I Mortgage. Your mortgage payment is protected if rates go up and you can always refinance if rates go down. Up to 100% financing available.

Adjustable Rate Mortgages
Adjustable-rate mortgages (ARM) offer an initial interest rate lower than the current fixed 30-year rate. ARMs offer fixed rates for a defined period (from 1mos to 15 years) but the amortization (length of time a loan is being financed for) is 360 months. For example: A 5/1 ARM is a 30-year loan that gives you a fixed rate for 5 years and then the interest rate and your mortgage payment fluctuate based on a market index. We will explain why this option is a favorite of many homeowners and investors.

Interest-Only Mortgages
Principal on these loans is not figured into your mortgage payment. Therefore, your monthly payment only calculates interest so the balance of the loan never decreases unless you pay over your minimum payment. Investors, for example, use interest-only loans to maximize their monthly cash flow from a rental property.