There are several different loan types to fit the needs of all
Greentree families. Regardless of your situation, we can find a
mortgage that will fit your needs and your budget. We offer traditional
fixed rate and adjustable rate mortgages as well as balloon mortgage
loans and cash-back options. Speak with our skilled and experienced
mortgage counselors to understand which mortgage will be best for
you and your family.
Here are brief descriptions of the different loan types we offer:
With a fixed rate mortgage, the interest rate stays the same for
the lifetime of the loan. Your monthly payment (for principal and
interest) stays the same for the term of the loan. Greentree offers
many fixed rate mortgages with terms to fit your budget.
An adjustable rate mortgage (or ARM) usually starts with an initial
interest rate lower than traditional fixed rate loans. After an
initial payment period, the interest rate is subject to review and
can move up or down based on the movement of a specified "index."
From then on, the rate is reviewed periodically. As the rate changes,
so does your monthly payment. Greentree has a variety of adjustable
A "balloon" mortgage has regular payments of principal
and interest that do not fully pay off the loan before its due date.
Therefore, it has a balance at the end of the loan term -- sometimes
almost as much as the original loan amount. This balance can be
paid in full, or refinanced at a new rate. Balloon loans tend to
have lower rates than comparable fixed rate mortgages. They may
be attractive if you need a lower initial monthly payment or plan
to move before the loan "balloons."
Cash-back from your Greentree loan is a popular request from our
customers. We recognize that today’s families have many needs
which can cause you to require additional cash--right now! Your
Greentree loan officer can advise you about cash-back options.
Any questions? Call us toll free at 800-438-9168.