Mortgage Analysis

A mortgage is a complex part of a real estate transaction.  The variety of available products is incredible:


Conventional Mortgage Products

Fixed 30 year term: the mainsteam way to pay for a home - or other building

Fixed 15 year term: provides a small improvement in interest rate over the Fixed 30 year mortgage

Adjustable Rate: interest rate of the loan is tied to an index, and will vary from year to year.  As will the payments.



Contemporary Mortgage Products

Interest Only: if you want to stay in a home for only a "few" years, this product may make sense: it will reduce your payments.

Buydown: allows a home owner to have a loan with an artifically low rate for one or two years, as an inducement to buy.  This requires a third party contribution to make it work.  Monthly payments can be 1/3 lower than for a Fixed 30 year.


Interest Rates

Are affected by your credit rating


Paul Martin       219-873-4999

Premium Mortgage, Inc.     An Illinois Residential Mortgage Licensee