Speak with Joshua Crater Mortgage Expert (949) 278-0766

Home Loan Types & Programs


Call Joshua Crater at 949-278-0766 or start your application online 24/7

At Watermark Home Loans we are one of the nation's premier Mortgage Bankers and Brokers. With our unique structure we have the ability to fund your new home loan in house similar to a traditional bank, but offer the flexibility to broker a loan if the situation requires it. With over 50 additional lenders at our disposal we have the ability to offer the most competitive programs, and find solutions for almost every scenario.


Whether you are looking for a simple conventional loan, a complex jumbo loan, or a first time home buyer program we offer all resources our clients need in order to secure the best possible home financing. We encourage clients to compare our interest rates and programs with other local lenders. Please call us today to experience the difference in rates and service 949-278-0766.



Loan Programs

Fixed Rate Mortgages (FRM)
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

Adjustable Rate Mortgages (ARM)
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans 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 both fixed-rate and adjustable rate mortgages and are also known as fixed-period ARMs.

HARP 2.0
HARP 2.0 is a refinance option for homeowners that are "underwater," meaning they owe more on their home than their home is worth.

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

VA Loans
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of 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.

Components of an ARM
Prior to choosing a home loan, you should know the advantages and risks of adjustable-rate mortgages to make an informed, prudent decision.

Commonly Used Indexes for ARMs
This article includes a list of the most commonly used indexes by ARM lenders that affect ARM mortgage rates.

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

What kind of loan program is best for you?
Should you get a fixed-rate or adjustable rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer.


Most Popular Fixed Rate Options

  • Conventional 30 year fixed
  • Conventional 15 year fixed
  • FHA 30 year fixed
  • FHA 15 year fixed
  • VA 30 year fixed up to $1,500,000
  • Jumbo 30 year fixed up to $5,000,000
  • Jumbo 15 year fixed up to $5,000,000

Most Popular Adjustable Rate Options

  • 5/1 Libor Arm
  • 7/1 Libor Arm
  • 10/1 Libor Arm
  • Interest Only Arms available
  • Jumbo Arm to $15,000,000 (call for details)