McAdams Financial Services: Connect with the Best

Government Loans FHA/VA
Equity Loans
First Time Homebuyer Programs
E-Z Qualifier Loans
Commercial and Construction Loans
Jumbo/Conforming Loans
Free Pre-Qualification
24-Hour Pre-Approvals

Adjustable Loan
Initially more affordable for buyer. Both the interest and principal can be adjusted. It is tied to U.S. Treasury Bill, or the 11th district cost of funds. If the measuring indicator moves up a point, than the interest rate on the loan is adjusted upwards. If the indicator drops, so will the interest rate on the loan.In many contracts, the interest rate change is limited to a maximum of a certain percentage (usually one or two percent). This is called a Cap.

15 year fixed loan
This loan carries a lower interest rate than the thirty year fixed. The higher monthly payment goes towards the principal. The borrower therefore pays off the loan in 15 years. This saves considerable interest for the borrower.

McAdams Financial Services offices are located in
Santa Barbara, Lompoc, Santa Monica, and San Diego.

McAdams Financial Services
A California Licensed Mortgage Brokerage
217 East Anapamu Street, Santa Barbara CA 93101
phone 805.963.1496 fax 805.965.4328 & 805.965.2870