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Types of Loans

30 Year Fixed - A 30-year fixed loan offers a low monthly payment over a longer period of time. It's an attractive option for those who plan to stay in their home for many years

20 Year Fixed - If you don't think you can handle the monthly payments of a 15-year fixed, but don't want to stretch out your loan to 30-years, then the 20-year fixed is a great option.

15 Year Fixed - 15-year fixed loans balance a higher monthly payment with lower interest rates, so that you pay less over a shorter period of time.

10 Year Fixed - With a 10 year fixed rate mortgage you pay a lower interest rate and build equity more quickly than you would for a longer term fixed rate mortgage.

Adjustable Rate Mortgages (ARM) - Adjustable Rate Mortgages have initially low interest rates that fluctuate over time as rates rise and fall.

FHA Loan - The Federal Housing Administration insures these loans to make it easier for borrowers to qualify for a mortgage.

FHA Streamline - The FHA streamline refinance is designed to get you a lower rate on your Federal Housing Administration loan.

VA Loan - VA loans may be available to veterans, active duty personnel, reservists or National Guard members, and/or their current or surviving spouses.  

Click here to determine eligibility requirements for service members, veterans, spouses, and other eligible beneficiaries..

VA IRRRL - The VA Streamline loan is an easy-to-qualify-for refinance loan using your VA loan benefit.

Please contact one of our Mortgage Lenders to review these options for your specific requirements.

Keith Brewer, Loan Officer
Mutual Federal Bank
2212 W. Cermak Rd., Chicago, IL  60608
Direct:  (443) 996-1240
kbrewer@mutualfederalbank.com
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