© 2018 AFC Mortgage Group, LLC

AFC Mortgage Group NMLS# 2801  |  Frank Ciambriello NMLS# 4757

Licensed in CT, NY, MA, VT,  Equal Housing Lender

(203) 452-9899  |  fciambriello@afcmortgagegroup.net

AFC Mortgage Group, LLC

Monroe, CT 06468

Our Loan Programs

Whether you’re a first-time home buyer, building the home of your dreams, or making the most of your home’s equity, we will help you identify your unique home loan needs.

 

We’ll shop the market to find the best rates and terms for your specific situation. We work to keep the loan process as simple as possible while maintaining consistent communication with you from beginning to end. Our goal is to ensure your loan process is as pleasant and worry-free as possible!

We believe that our job is not over just because your loan is finalized. We will continue to keep track of every detail of your home loan and so we can keep you up to date and alert you of any changes in interest rates that may signal an opportunity to benefit from a refinance.

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.

 

Hybrid ARMs (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)
Hybrid ARM mortgages combine features of both fixed-rate and adjustable rate mortgages and are also known as fixed-period ARMs.

 

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.

 

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 down payment requirement. This program was designed to help military veterans realize the American dream of homeownership.

 

 

Interest Only Mortgages
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 specified period of time.

 

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.

 

Reverse Mortgages
Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.

 

Graduated Payment Mortgages
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and becomes fixed for the remaining duration of the loan.