Compare Loan Types | Park Grove Lending, LLC

Fixed Rate Loans

30-, 25-, 20-, 15- and 10-year terms available, plus custom terms between 10 and 30 years.
Buy a home with as little as 3% down (primary home).
Refinance up to 95% of your primary home's value.
Monthly payments remain the same for the entire loan term.

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Adjustable Rate Loans

3/1, 5/1, 7/1 and 10/1 ARMs, with payments based on a 30-year repayment schedule.
Rate stays fixed for the first 3, 5, 7 or 10 years, then adjusts annually.

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FHA Loans

3.50% minimum down payment on purchase — 100% gift funds allowed.
Minimum credit score usually 550.
Post-bankruptcy qualifying: 2 years after. Post-foreclosure qualifying: 3 years after.

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VA Loans

Competitive interest rates, routinely lower than conventional rates.
Sellers can pay up to 6% of closing costs and concessions.
Higher allowable debt-to-income ratios than many other loans.
Down payment as low as 0%.

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Reverse Mortgage Loans

For clients — or their parents — who are 62 years and older.
Purchase your next home with this product and have no required monthly mortgage (principal and interest) payment. You still pay property taxes, insurance and upkeep.
Convert your home's equity into a lifetime income stream.
Use the line-of-credit option for access to cash in an emergency.

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Park Grove Lending, LLC is not affiliated with or endorsed by HUD, the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), or any other government agency, and is not a government agency.

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