• 30 year fixed-rate mortgage
• 20 year fixed rate mortgage
• 15 year fixed-rate mortgage
• Georgia Loan Program

• Because the mortgage interest rate does not change, the principal and interest portion of the monthly mortgage payment remains the same over the life of the loan. 
• Even if mortgage interest rates increase, your mortgage rate will not go up.
• If home mortgage rates drop, you can refinance your mortgage to take advantage of them.

• Fixed mortgages have higher interest rates than adjustable rate mortgages (ARMs)
• Because of the higher interest rates, the monthly mortgage payment on a fixed mortgage will be slightly higher than the initial payment on an ARM.
• Interest rate does not drop if interest rates improve.  You will have to refinance in order to take advantage of lower home mortgage rates.

• 1 Year ARM
• 3/1 ARM
• 5/1 ARM
• 7/1 ARM
• 10/1 ARM

Georgia Loan Program

• Monthly home mortgage payment is lower during the initial term of the loan.
• If mortgage rates improve, mortgage rate and monthly mortgage payment may go down.
• Due to the lower initial monthly mortgage payment, borrower may qualify for a higher loan amount.
• No balloon payment
• Have 30 year term.

• Mortgage interest rate is not fixed.
• Monthly mortgage payment may change over time.
• Monthly mortgage payment may increase if mortgage rates increase.

• 7 year balloon
• 5 year balloon
• Georgia Loan Program

• Lower initial monthly mortgage payment
• Lower mortgage payment for a predetermined period of time
• Many balloon mortgages offer the option to convert to a new loan after the initial term

• Home mortgage rates may be higher at the end of the initial fixed period
• If you cannot make balloon payment, refinance the loan, or exercise the conversion option, you risk foreclosure on your mortgage.
• Unlike an 7/1 or 5/1 ARM loan with a 30 year term, mortgages with a balloon payment require you to pay the remaining balance,  sell your home, or refinance your mortgage after the initial term.
• Peachtree Mortgage Services, Inc. does not offer mortgages with Balloon payments.

First Time Homebuyer Programs

Georgia Loan Program

• These loan programs offen require a lower down payment.
• It is often easier to qualify for loans offered through first time homebuyer programs.
• First time homebuyer programs may offer lower interest rates.
• Looking for a first time homebuyer program?  Call Peachtree Mortgage Services, Inc. for a free loan consulation, or email us at peachmtg@bellsouth.net to discuss your options.

• Potential limitations on income and/or property value.
• With some government- subsidized mortgage programs, you may have to pay a recapture tax if you sell your home too soon. 
• First-time homebuyer education courses may be required in order to qualify.

Stated Income Programs

Georgia Loan Program

• Verfication of income is not required
• Approval is often quicker.
• Good for borrowers who may not qualify for mortgages with full income documentation programs

• Higher mortgage rates
• Higher down payment
• It's hard to find stated income programs.  Peachtree Mortgage Services, Inc. does not offer Stated Income Loans.

Interest Only Programs

Georgia Loan Program

• Several mortgage payment options are available.
• Because you pay only the interest, the monthly mortgage payment will be lower.
• Because of the lower monthly payment, borrowers may qualify for a higher loan amount.
• Loan qualificiation is done at the interest-only payment.
• Borrowers have the option of paying the normal, full mortgage payment
• Interest only payments can be made for up to ten years.

• Higher mortgage rates
• Principal loan balance will not decrease during the interest only payment period
• Mortgage payment will be higher for the remaining term.
• If home property values decline, you may end up owing more than the property is worth.
• PEACHTREE MORTGAGE SERVICES, INC. DOES NOT RECOMMEND OR OFFER INTEREST-ONLY LOAN PROGRAMS.  Call us at 770.698.9394 or email us at peachmtg@bellsouth.net to discuss other home mortgage options.

NO POINTS, NO FEES PROGRAM

Georgia Loan Program

• No out-of-pocket mortgage loan costs are required at closing
• Less money required to close

• Mortgage interest rates are higher.
• Monthly home mortgage payments are higher.

Georgia Loan Program

• Potential for re-establishing credit if you pay your mortgage on time
• When used for debt consolidation, you may be able to reduce your monthly debt payment
• Call Peachtree Mortgage Services at 770.698.9394 or email us at peachmtg@bellsouth.net to discuss your options.

• The programs have higher mortgage interest rates
• Terms of the mortgage may not be as favorable
• It's more difficult to get long-term fixed-rate mortgages
• These home mortgage loans often have prepayment penalties

Home Equity Line of Credit

Georgia Loan Program

• Borrow only the amount that you need
• Interest is paid only on the amount you borrow.
• Access to funds is flexible
• The interest you pay on HELOCS may be tax deductible.
• If set up in advance, can be used as an emergency fund.
•  Can be used for debt consolidation and often have lower rates and payments than credit cards. 
• Interest rates are usually lower than consumer loan or credit card interest rates.

• Mortgage rates can change, and the maximum interest rate is often relatively high
• Mortgage payments can change over time.
• Having a home equity line of credit (HELOC) makes it more difficult to refinance your first mortgage.

• Refinance your home mortgage with a lower interest rate and a lower monthly mortgage payment!
• Let Peachtree Mortgage Services, Inc. finance your dream home!  You'll love our low interest rates!
• Home mortgage interest is tax deductible!
• Get a lower home mortgage interest rate and pay off higher interest rate debts with a cash-out refinance!
• Call us at 770.698.9394 or email us at peachmtg@bellsouth.net to discuss your home mortgage options.

• You won't able to stop talking about the great rate and service you received at Peachtree Mortgage Services, Inc!  Call us at 770.698.9394 or email us at peachmtg@bellsouth.net to get started!