Loan Programs 

(click on blue writing for more information)

Fixed Rate Mortgages (FRM)   
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

Adjustable Rate Mortgages (ARM)
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.

HARP 2.0
HARP 2.0 is a refinance option for homeowners that are "underwater," meaning they owe more on their home than their home is worth.
FHA Loans
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.

FHA Streamline Loans

The FHA streamline refinance program helps current FHA homeowners lower their interest rate and monthly payment — it’s a fast and cost-effective way to refinance with lenient documentation requirements and credit standards.

To further entice FHA mortgage holders, the FHA also offers upfront mortgage insurance premium (upfront MIP) refunds. This refund allows a portion of the premium paid when the original FHA loan closed to be applied to the upfront MIP of the new FHA streamline refinance loan.

FHA Manufactured Home Loans

Mobile homes, also known as manufactured homes, represent more than one out of ten new homes built and provide an affordable alternative for home ownership. Less expensive than both new and existing single family homes, manufactured housing has been an alternative to more expensive “stick-built” housing for decades.

Perhaps the most widely-available form of financing for mobile homes is offered through the Federal Housing Administration, or FHA.

VA Loans 
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, Loans low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of home ownership.
Components of an ARM
Prior to choosing a home loan, you should know the advantages and risks of adjustable-rate mortgages to make an informed, prudent decision.
Commonly Used Indexes for ARMs
This article includes a list of the most commonly used indexes by ARM lenders that affect ARM mortgage rates.
Balloon Mortgages
Balloon mortgages include a note rate that remains fixed initially, and the principal balance becomes due at the end of the mortgage term.
Residential Mortgage Group is a DBA of
Home Mortgage Alliance Corporation (HMAC) Corporate 
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4 Hutton Centre Dr, Santa Ana, CA 92707

Phone 844-244-7320

Fax 714.398.8810

NMLS License # 1165808

Department of Real Estate DRE License Number - 01526821

Department Of Business Oversight DBO License Number - 603L284

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