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Types of Loans

30 Year Fixed - A 30-year fixed loan offers a low monthly payment over a longer period of time. It's an attractive option for those who plan to stay in their home for many years

20 Year Fixed - If you don't think you can handle the monthly payments of a 15-year fixed, but don't want to stretch out your loan to 30-years, then the 20-year fixed is a great option.

15 Year Fixed - 15-year fixed loans balance a higher monthly payment with lower interest rates, so that you pay less over a shorter period of time.

10 Year Fixed - With a 10 year fixed rate mortgage you pay a lower interest rate and build equity more quickly than you would for a longer term fixed rate mortgage.

Adjustable Rate Mortgages (ARM) - Adjustable Rate Mortgages have initially low interest rates that fluctuate over time as rates rise and fall.

FHA Loan - The Federal Housing Administration insures these loans to make it easier for borrowers to qualify for a mortgage.

FHA Streamline - The FHA streamline refinance is designed to get you a lower rate on your Federal Housing Administration loan.

VA Loan - VA loans may be available to veterans, active duty personnel, reservists or National Guard members, and/or their current or surviving spouses.  

Click here to determine eligibility requirements for service members, veterans, spouses, and other eligible beneficiaries..

VA IRRRL - The VA Streamline loan is an easy-to-qualify-for refinance loan using your VA loan benefit.

Please contact one of our Mortgage Lenders to review these options for your specific requirements.

Mutual Federal Bank NMLS #396874
2212 W. Cermak Rd., Chicago, IL  60608
Office:  (312) 447-5200
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