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Some of these loan types and characteristics may be shared.  For example, you can have either fixed or adjustable conventional loans.


CONVENTIONAL LOANS:  These are the most common types of first mortgages for consumers with a 5%-20% down payment and good credit.  These loans are underwritten through common guidelines set forth by Fannie Mae (or the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corporation.)

FHA [FEDERAL HOUSING ADMINISTRATION]:  Started in 1934, these are loans insured by the FHA.  They help low to moderate income families get mortgages.  They are generally a little easier to qualify for than conventional loans and may require less of a down payment. Used often by first time home buyers. 

VA (DEPARTMENT OF VETERANS AFFAIRS) LOANS:  Established in 1944, these loans are to assist eligible people on active military duty or retired status to buy primary residences.   

JUMBO LOANS:  Any loans over $252,700 are considered Jumbo Loans.  They usually carry a higher interest rate and more money down than a conventional loan, at least 20%. 

FIXED RATE MORTGAGES:  The interest rates on these mortgage are fixed for the life of the loan.  The 30 year fixed is most common with the 15 year fixed popular with  refinances. 

ADJUSTABLE RATE MORTGAGES (ARMs):  The interest rate on these mortgages adjusts every so often, using a common benchmark rate as means of calculating the change.  They usually carry yearly and lifetime caps for rate increases and decreases.  

HYBRID LOANS:  These loans carry a fixed rate for a period of time, then adjust.  Some common types are the 7/23, which gives you a fixed rate for 7 years and then adjusts according to market changes, and the 10/1 which is fixed for 10 years than changes to a one year adjustable.

CONSTRUCTION LOANS:  These loans are meant to finance the actual construction of a home. Many of these are then paid off or converted into permanent financing.  They have higher rates than permanent financing. 

80-10-10 LOANS:  These loans are used to avoid Private Mortgage Insurance (PMI). You carry an 80% first mortgage and a 10% second mortgage with 10% equity.  There is also an 80/15/5 with the same structure.

HOME EQUITY LOANS:  These are used to take out a relatively small amount of money ($10,000-$30,000) for almost any purpose imaginable, from fixing up your house,  funding an education, to buying a new car.  The interest rate on these is usually competitive, there are few fees, and because of the equity position these loans are usually tax deductible. 

NO FEE LOANS:  A relatively new type of mortgage, these loans reduce your closing costs to little or nothing, but they will carry a higher interest rate.  You either pay closing costs and receive the absolute lowest rate or you reduce your closing costs at the expense of a higher monthly payment.  

"B" CREDIT LOANS:  A very broad term to describe anyone who has anything less than perfect credit, from a few late payments to bankruptcies and foreclosures.

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Still paying a high interest rate on your mortgage? That extra money should be yours each month. When interest rates are lower than what you are currently paying, it's time to consider refinancing. This can mean great savings for you and your family. Replacing your existing mortgage with a new, lower interest loan, changing the term of your loan, or even consolidating all your debts into this new loan will save you money, both monthly and over the life of the loan. Through the QueConnect network of refinance lenders, we can specifically design a custom mortgage refinance loan quote 2-8% below your current rate.

  • Fill out the mortgage refinance loan quote questionnaire to the left. We will search our database of refinance loan programs to fit your borrowing needs, there are hundreds of options and thousands of loan programs available.
  • Within 24 hours you will receive up to 4 free no obligation mortgage refinance loan quotes. You then - Compare, Choose and Save!


Submitting personal information constitutes a request to generate a mortgage quote and authorize QueConnect to send your loan request to multiple qualified lenders and brokers, who will be calling you with no obligation mortgage quotes. The information will be used and disclosed to effect only such transaction. Personal information is not disclosed to others for purposes other than mortgage quotes. All rates and prices are subject to change without notice based on market conditions. Rates are also based depending in part on your unique credit history and transaction characteristics. Not all products and services are available in all geographic locations. Acceptance is based on eligibility requirements and subject to final determination.

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