Homemade Mortgage Inc. is a new company founded and staffed by mortgage professionals looking for a
better way to serve you the client. The small company is founded on deep beliefs of ethics, honesty, and the
need to build a lasting relationship with every client we come across.
Contact Information

Leisha Clure
Homemade Mortgage Inc.
509-263-0397
lclure@homemademtg.com    www.homemadeloans.com

Loan Programs

Fixed Rate Mortgages The traditional fixed rate mortgage is the most
common type of loan programs, where monthly principal and interest
payments never change during the life of the loan.

Adjustable Rate Mortgages (ARM)
Adjustable Rate Mortgages (ARM)'s are loans whose interest rate can
vary during the loan's term. These loans usually have a fixed interest
rate for an initial period of time and then can adjust based on current
market conditions.

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

Interest Only Mortgages
A mortgage is called "interest only" when its monthly payment does not
include the repayment of principal for a certain period of time.

Components of an ARM
To understand an ARM, you must have a working knowledge of its
components.

Balloon Mortgages
Balloon mortgages have a note rate that is fixed for an initial period of
time, and then the remaining principal balance is due at the end of the
term.

Graduated Payment Mortgages
Graduated Payment Mortgage is a loan where the payment graduates
(increases) annually for a predetermined period (e.g. five or ten years),
and then becomes fixed for the duration of the loan.

What kind of loan program is best for you?
So what kind of mortgage is best for you? Fixed rate? Adjustable rate?
Government loans? The truth is, there is no one correct answer.