Conventional Mortgage
The most comon type of mortgage loan for financing or refinancing one-to-four family residential property with a fixed interest rate for terms of 10-30 years.  Financing can be used for primary residence, second/vacation home or rental property.

Thirty-Year Fixed Rate Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

Fifteen-Year Fixed Rate Mortgage
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn't that great.

FHA
Not just for first-time home buyers, this loan is also designed to assist borrowers who may have slight credit problems but have the ability to provide a minimum cash down payment of 3.5% of the contract sales price.  Improvements in FHA loans provide easier qualifications, less out-of-pocket expenses and increased loan limits.  Borrowers also have the ability to accept monetary gifts from family members. 

Rural Development
Can assist anyone residing in a designated rural community.  It can provide low mortgage rates for families with a moderate income range and/or those with limited credit history, renters or first-time homebuyers when certain requirements are met.

VA (Veterans Administration)
Designed to assist eligible veterans and active military to obtain a federally-insured home loan.  Applicants can obtain 100% financing with maximum VA eligibilty.

Arkansas Development Finance Authority (Bond Loans)
First Security Mortgage participates in the Bond program.

We have many other mortgage products available to meet your needs.  Ask one of our Mortgage Loan Specialists for more information.