Loan Programs
Which Mortgage is Right for You?
There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we’re here to help you choose the best type of home loan for your needs.
Mortgage Rate Options
Fixed Rate
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.
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Adjustable 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-i...
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Interest Only
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
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Graduated Payments
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and...
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Loan Program Options
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.
VA Loans
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...
USDA Loans
If you're looking to buy a home in a rural or suburban area with no down payment and minimal investment, you might consider the USDA Rural Development Loan.
Jumbo Loans
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $647,200 in...
First-Time Homebuyer Loans
The Home Ready and Home Possible loan programs are geared towards the first-time homebuyer. They address common financial challenges and offer expanded eligibility guidelines.
FHA/VA Streamline Loans
If you currently have an FHA or VA loan you may be eligible for a streamline refinance. The FHA Streamline and VA IRRRL loans allow for current borrowers to reifnance based on their payment history.
Self-Employment Loans
We understand the challenges self-employed borrowers face when trying to qualify for a mortgage. Which is why we offer a Bank Statement program. Qualify with 12 or 24 months of business or personal bank statements.
High-Balance Loans
A High-Balance loan is one that exceeds national baseline conforming loan limits of $647,200, but still falls within the local conforming loan limits for the high-cost county. Pike County is the only county in Pennslyvania that offers High-Balance Loans with a max loan amount of $970,800.
Home Equity Loans
Whether you’re looking to finally renovate your kitchen, buy a new car or consolidate debt; you can use your home equity to fund any major expense or purchase.
Investor Loans
An Investor loan, commonly referred to as a Debt Service Coverage Ratio (DSCR) loan allows a borrower to qualify for a mortgage based on cash flor generated from an investment property.
Renovation Loans
Are you looking to “Flip This House?” Wize Mortgage has your back with our Fix & Flip program. Get competitive rates and finance up to 100% of your rehab budget. Flip your investment or convert to a 30 yr fixed rate if you choose to rent it out.
Reverse Mortgage Loans
A reverse mortgage is a powerful financial tool to help older Americans live more comfortably as they age. Designed for Americans 62 and older, a reverse mortgage allows you to remain in your home without having to make a monthly payment.