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Which loan is right for me?


Years you plan to stay in the homeRecommended program
1-3 yearsPay Option ARM, 3/1 ARM, or 1 year ARM
3-5 yearsPay Option ARM, 5/1 ARM, or 3/1 ARM
5-7 yearsPay Option ARM, 7/1 ARM, or 5/1 ARM
7-10 years30 year fixed, Pay Option ARM, or 7/1 ARM
10+ years30 year fixed, Pay Option ARM, or 7/1 ARM


In addition to our standard loan programs, you may benefit by obtaining one of our many special programs:

  • Purchase your home with no down payment.
  • Piggyback loans: 80-10-10 or 80-15-5. Avoid PMI payments.
  • Debt consolidation programs.
  • Home Improvement loans.
  • You may qualify even if you've been turned down before!
Loan ProgramAdvantagesDisadvantages
Fixed Rate Mortgages
  • 30 year fixed
  • 15 year fixed
  • Monthly payments are fixed over the life of the loan
  • Interest rate does not change
  • Protected if rates go up
  • Can refinance if rates go down
  • Higher interest rate
  • Higher mortgage payments
  • Rate does not drop if interest rates improve

Loan ProgramAdvantagesDisadvantages
Adjustable Rate Mortgages (ARM)
  • Pay Option ARM
  • 7/1 ARM
  • 5/1 ARM
  • 3/1 ARM
  • 1 year ARM
  • 6 month ARM
  • 1 month ARM
  • Lower initial monthly payment
  • Turn Mortgage into an Asset
  • Qualify for higher loan amounts
  • More freedom in your payment plan
  • Control over your Mortgage
  • Use your cash for other investments
  • More risk
  • Payments may change over time
  • Potential for higher payments if rates increase

Loan ProgramAdvantagesDisadvantages
  • Reverse Mortgage
  • 62 and older

  • No Mortgage Payments for life
  • Cash disbursment option
  • Monthly Income option
  • Guaranteed Lifetime income option
  • Never owe more than your home is worth.
  • The Freedom to enjoy your retirment
  • Marketplace Funding Loan Consultant to personally guide you through the process
  • Only available to people 62 and older
  • Rates are adjustable


Loan ProgramAdvantagesDisadvantages
First Time Buyer Programs
  • Lower down payment
  • Easier to qualify
  • Save your cash for decorating/upgrading your home.
  • May be subject to income and property value limitations
  • Variety of loans may be limited


Loan ProgramAdvantagesDisadvantages
Stated Income Programs
  • Don't need to verify income
  • Faster approval
  • Good for borrowers who may not qualify with a full income documentation program
  • Higher rates
  • Higher down payment

Loan ProgramAdvantagesDisadvantages
Interest Only Programs
  • You have several payment options
  • Lower monthly payments
  • Qualify for a higher loan amount
  • Qualify at the interest only payment
  • Option to pay the full normal payment
  • Interest only payments for up to ten years
  • Higher rates
  • Principal loan balance will not decrease during the interest only payment period


Loan ProgramAdvantagesDisadvantages
No point, No fee Programs
  • No out-of-pocket loan costs at closing of purchase
  • Closing costs are paid with your rate.
  • Less money required to close
  • Refinance without increasing your loan amount
  • Higher rates
  • Higher payments
  • Pre-payment Penalties
  • Not the most competitive product on the market

Loan ProgramAdvantagesDisadvantages
Imperfect Credit Programs
  • Potential for reestablishing credit if you pay your mortgage on time
  • When used for debt consolidation, you may be able to reduce your monthly debt payment
  • First step towards improving your overall financial situation
  • Pay off high consumer debt with your mortgage, and possibly save thousands per month.
  • Higher rates
  • Loans may have prepayment penalties


Loan ProgramAdvantagesDisadvantages
Home Equity Line of Credit
  • You only borrow what you need
  • Pay interest only on what you borrow
  • Flexible access to funds
  • Interest may be tax deductible
  • May be free of closing costs
  • A good source for an emergency fund, if set up in advance
  • Can be used for debt consolidation and lower payments
  • Rates are usually lower than consumer loan or credit card rates
  • Rates can change. The maximum interest rate can be relatively high
  • Payments can change
  • Harder to refinance your first mortgage

Loan ProgramAdvantagesDisadvantages
Home Equity Fixed Loan
  • Fixed payments
  • Interest may be tax deductible
  • Get cash out for any purpose
  • Higher interest rates compared to first mortgage
  • Harder to refinance your first mortgage
  • Interest is paid on the entire loan amount, compared to an equity line of credit


Marketplace Funding, Inc. - 701 Palomar Airport Rd. Suite 300 - Carlsbad, CA 92011
Office Phone: (760) 931-4737 Fax: (760) 539-8800 Toll Free Phone: (800) 760-5156


  New BBB

Hawaiian Branch Location:

970 N.Kalaheo Ave #A213

Kailua, HI 96734

We are licensed in the following states:

CA, FL, HI

We are FHA/HUD approved

We are VA approved

 

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We are an Equal Housing Lender

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