Amy Cimetta, Vista Sotheby’s International Realty

Types of Loans

Adjustable Rate Mortgage

Adjustable rate mortgages have an interest rate that is adjusted at vcrtain intervals based on a specific index during the life of the loan.

Balloon Payment Loan

A fixed rate loan that is amortized over 30 years but becomes due and payable at the end of a certain term. May be extended or may rollover into another type of loan.

Buy-Down Loan

Buy-Down loans are fixed rate loans where the interest rate and the payment are reduced for a specific period of time by paying the interest up front to subsidize the lower payment.

Conventional Loan

onventional loans are sometimes more lenient with the appraisal and condition of the property. When you are buying a “fixer” you may need to use a conventional loan. Homes purchased above the FHA loan limit of $152,356 are usually financed with conventional loans.

FHA Loan

FHA loans are insured by the Federal Housing Administration under HUD. They offer a low down payment and are easier to qualify for than conventional loans.

Fixed Rate Loan

Fixed rate loans have one interest rate that remains constant throughout the life of the loan.

Graduated Payment Mortgage

A fixed rate loan that has payments starting lower than a standard fixed mortgage rate loan which then increases by a predetermined amount each year for a set number of years.

Non-Qualifying Loan (Assumable)

Non-qualifying loans are pre-existing loans which can be assumed by a buyer from the seller of a property without going through the qualifying process. The buyer pays the seller for their equity and then starts making payments.

VA Loan

VA loans are guaranteed by the Veterans Administration. A veteran must have served 180 days active service. The maximum loan is currently $203,000 with no down payment.

Amy Cimetta

Amy Cimetta

Broker Associate, MBA


License: 01774767

Vista Sotheby’s International Realty

2501 N. Sepulveda Blvd, 2nd Floor
Manhattan Beach, CA 90266

310.542.9054 direct

310.428.8804 cell

“I have bought and sold many houses and Amy is the best agent I've ever had.”

-Jeannette Christensen
Easy Reader's Best of the Beach

5-star Rated Agent


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