IFC Loans

Adjustable or Variable Rate Loan is loan whose interest rate, and accordingly monthly payments, fluctuate over the period of the loan. With this type of mortgage, periodic adjustments based on changes in a defined index are made to the interest rate. The index for your particular loan is established at the time of application.

IFC Loans has a wide range of Adjustable Rate Loan Options built to suit specific needs of our customers. Our Home Mortgage Experts are ready to help you find the loan that’s right for you!

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Basic Adjustable Rate Mortgages (ARMs)

Adjustment periods each 6 months or 1 year with a maximum Life cap of 5 to 6 % on most programs. The periodic adjustment caps vary from 1 to 2 %. Defined index of Treasury or LIBOR indexes.

Basic ARM with Reduced Rate Option

You receive a reduced interest rate in exchange for limits on refinancing and early principal reduction for first 3 years of the loan.

Fixed Period ARM

If you plan to move or refinance again in a few years and want the security of a fixed rate for that period of time this loan may be correct for. You get a fixed rate for 3, 5, 7 or 10 years, then adjusts annually based on a financial index.

Fixed Period ARMs with Reduced Rate Option

You receive a reduced interest rate in exchange for limits on refinancing and early principal reduction for first 5 years of the loan. If you plan to move or refinance again in a few years and want the security of a fixed rate for that period of time this loan may be correct for. You get a fixed rate for 3, 5, 7 or 10 years, then adjusts annually based on a financial index.

Construction Loans

You are building or significantly renovating a home (in excess of $50,000) and want to avoid the extra cost of two closings (construction loan and permanent loan). One application, one qualification process, one closing, and one set of closing costs. Interest-only payments during construction, and an adjustable rate for the permanent loan.

FHA Loans

FHA Loans provide mortgage insurance for a person to purchase a principal residence. The mortgage loan is funded by a lending institution, such as a mortgage company and the mortgage is insured by HUD. This type of loan only requires as little as 3% down payment.

Interest Only Option

Interest-only is an option that can be attached to any type of mortgage. Qualified borrowers pay interest only for the first 10 or 15 years of the loan for adjustabel rate loan programs.