Clarion Mortgage Capital

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Contact Info:
Clarion Mortgage Capital
Jonathan K Kuerschner
Senior Loan Officer
Phone: 719-331-0096
Fax: 719-548-9475
Contact Us

Loan Programs

There are many loan programs to fit almost any need. Please call and ask which loan program best fits your situation.

Recommended Programs

Use the information below to choose the best program for your need.

Years you plan to stay in the house:	Recommended Program(s):

15-Year and 30-Year Fixed Rate: Payment and rate stay the same from start to finish.
5 and 7 Year Balloons: Lower start rate. Some of the balloon programs may be converted to an adjustable rate or a fixed rate after the 5 or 7 years, with very low fee and attractive rate. Must be arranged at initial application.
Adjustable Rate Mortgage (ARM): Lowest start rate Adjusts either every 1, 6 or 12 months depending on program and grade and is based on the economy. 6% ceiling for prime and 7% ceiling for sub-prime.
3/1, 5/1, 7/1 and 10/1 Fixed Rate: Rate is fixed for the first 3, 5, 7 or 10 years, then shifts to an adjustable rate mortgage (ARM).
2/28 or 3/27 ARM: An ARM program that is fixed for the first 2 or 3 years, then shifts into a 6 month adjustable rate mortgage. It is a sub-prime program giving you a rate lower than the sub-prime 30-year fixed, and if you have had credit problems, it allows a window of time for credit rebuilding and seasoning. You will then want to refinance this loan.

Which Program is best for me?

Here are a few things to keep in mind when selecting a loan program.

15-Year and 30-Year Fixed Rate
Advantages:		Disadvantages:
Maximum interest deduction for taxes, sometimes easier to qualify, stable predictable payments, high loan to value, lower down payment, possible secondary financing if needed.		Pay more interest over the life of the loan, higher starting interest rate, Lower debt ratio (Larger Income to qualify) Higher monthly payment.

5 and 7 Year Balloons
Advantages:		Disadvantages:
Lowest starting interest rates help qualify for higher loan amounts. Best If you plan to sell within 2-3 years or if you expect your income to increase.		Whole loan balance becomes due all at once in 5 or 7 years.

Adjustable Rate Mortgage (ARM)
Advantages:		Disadvantages:
Lower starting rate than 30 year fixed. Great for refinancing from a higher rate use when you plan a move in 5-7 years. Some are convertible to 30-yr fixed or a treasury ARM, low fees, good rates.		Loan Balance Due can Change Long Term Financial Planning If You Plan to Live There Over 3 Years.

3/1, 5/1, 7/1 and 10/1 Fixed Rate
Advantages:		Disadvantages:
Great for a short term hold.		Subject to market rates after the intial fixed rate term.

Common Questions

The following may help in answering some of your questions.

Additional Comments

We also offer First Time Homebuyer programs, Down Payment Assistance, NoDoc loans, Stated Income loans, Jumbo loans, Interest Only loans, and 100% Investment Property loans. If you have a need that is not addressed here, please contact us, as we have a loan product for almost any situation.