Brian Emerson

Senior Loan Officer

NMLS: 400942


Loan Programs

Fixed Rate Mortgages (FRM)

The most common type of mortgage, the traditional fixed-rate mortgage has monthly principal + interest payments that will not change during the loan’s lifetime.

Adjustable Rate Mortgages (ARM)

Adjustable-rate mortgages have interest payments that can shift during the loan’s term, depending on market conditions. Typically, this type of loan will carry a fixed-interest rate for a set period of time before adjusting.

Hybrid ARMs: 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM

Hybrid ARM mortgages combine features of fixed-rate and adjustable rate mortgages. They are also referred to as fixed-period ARMs.

HARP 2.0

This refinance option is mainly for homeowners that are "underwater"... meaning they owe more on their property than their home's current market value.

FHA Loans

FHA home loans are mortgages that are insured by the Federal Housing Administration (FHA), which means borrowers are able to get low mortgage rates with a minimal down payment.

VA Loans

This type of loan is a mortgage guaranteed by the Department of Veteran Affairs. These loans give military veterans access to exceptional benefits, including low interest rates and no down payment requirement. This mortgage program was created to help military veterans with home ownership.

Interest Only Mortgages

Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specified period of time.

Balloon Mortgages

Balloon mortgages involve a note rate that remains fixed initially and the principal balance becomes due at the very end of the mortgage term.

Reverse Mortgages

Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.

Graduated Payment Mortgages

Graduated Payment Mortgages include payments that increase annually for a predetermined period of time (e.g. 5 or 10 years) and become fixed for the remaining period of the loan.

Got Questions?

Your local Edina mortgage brokers are here to answer any questions you may have regarding the loan programs above on (612)203-5478