Fixed Rate Loans vs Hy-Bred Combo Loans; Central City Mortgage offers loan programs designed to work around your busy lifestyle... with an understanding that many of us will refinance our home purchase loans withing the first 3 to 5 years, and sell and/or move up to a bigger home within the next 5 years. With this in mind The Wright Team, after listening to your goals can recommend loan programs with fixed interest rates for 15, 20, 30 years, or money saving programs that offer lower interest rates that are fixed for periods as short as 1 year. We have a program that should be perfect for your plans and goals. The savings of a 3 year or 5 year fixed rate loan may be perfect for your situation... Keep in mind that you no longer are forced to take the higher interest rates of a 30 year fixed rate program just to have the payment security you want. With shorter term loan programs you can still save money without going to a fully adjustable rate program by taking advantage of one of our many hy-bred loan programs; your loan officer will discuss all of your options when your application is taken.

Negative Amortization Loan Programs; Central City Mortgage offers all of the most popular "Pick-a-Pay," "Choice Programs," or "Neg-Am Loans" with just about every option anyone could want on a Negative Amortization Home Loan Program... we also have the experience to know when this type of loan would be beneficial to our borrowers, and when it might be beneficial to opt for a more traditional loan program. Neg-Am Loans are powerful money leveraging tools best used by those who have the financial researves to benifit from their options, and better avoided when only used to qualify a buyer to purchase homes they otherwise would not qualify for. Please feel free to call with any questions; we are here to be of service.
                                                   Click Here To Learn More About Negative Amortization Loans

How To Avoid PMI & MI; Central City Mortgage also has numerous programs and combination loans that avoid PMI & MI, or that are "Self Insuring," which can save you thousands of dollars over the life of your loan and make your new home more affordable.

                                                            Click Here To Learn More About Avoiding PMI & MI

First Time Buyers Programs; Central City Mortgage has the lending options to put together loan programs that are assured to help "First Time Buyers" qualify for more home than you probably thought you could afford as a First Time Buyer. The fact is that if you have average to above average credit, and are currently paying rent... we can probably qualify you to buy a home or condo and start your way to building equity instead of enrichening your landlord. Call and see how much we can get you qualified for today.

Central City Mortgage Offers Fixed Programs locked for 15, 20, 30, 40 years, most with interest only options. These loan programs provide some of the most secure, lowest possible payments of any program short of the Negative Amortization loans. These programs are available with 100% financing options, including the popular 80/20, 80/15, and 80/10 combination loans (eliminating PMI and MI). 

The Wright Team also has numerous programs that are locked for 1, 3, 5, 7 or 10 years, that than convert to adjustable programs and are amortized over 30 or 40 years... we are just now starting to see some options on 50 year loan programs, so call for details on these. These types of programs factor strongly into many aggressive First Time Buyers Programs we work with allowing buyers to stretch their buying dollars without going into Negative Amortization programs.

Long before the Negative Amortization Loans became the popular financing tool to leverage additional purchasing power for home buyers adjustable rate loan programs were the loan of choice for financial planners because they have consistently saved borrowers money over the fixed rate programs pushed by banks. Central City Mortgage offers adjustable rate programs with monthly, 6-month, and annual adjustment periods and with Treasury Bill, MTA and Libor indexes.

Central City Mortgage offers a broad selection of adjustable rate Negative Amortization (Neg-Am) Loan Programs also, including 40 year programs. Many of these programs feature extended fixed payment options and have payment caps to limit the amount monthly payments can increase during any adjustment period. See the link below to learn more about these programs. 

NOTE:  We no longer represent the World Savings Programs that used the "COSI" index, and will have to wait and see what this once popular program evolves into since the bank has been bought out by "Wachovia Bank." The buy out of World Saving by east coast power house, Wachovia Bank should bring some interesting new home loan products into the Central City Mortgage loan arsenal as they will probably focus on the "Alt-A" and semi-sub prime mortgage markets and have an aggressive wholesale division (Beating their retail divisions). Everyone is taking a "Wait and See" attitude at this time because World Savings "Pick a Pay" adjustable program was thought by many to be the reason for World Savings selling out what was once the most solid banking portfolio in the industry. This was an interesting move by Wachovia Bank.

                              Click Here To Learn More About Negative Amortization Loans