The following is a partial list of programs offered by Thomson Mortgage Services, LLC with a brief description of the key elements of each. For a complete listing of the product offerings, please contact us at 860-621-8005.

Fixed Rate Mortgages
Fixed interest rate mortgages provide you with the security of a fixed interest rate and a standdard monthly payment for the life of your loan.

Adjustable Rate Mortgages
An adjustable rate mortgage (ARM) typically starts the interest rate lower than the current fixed market rates. After the inital period when your rate is locked, your monthly payment will gradually increase or decrease based upon a market sensitive index throughout the life of your loan. The margin, which remains fixed throughout the life of the mortgage, is then added to the index to determine your rate for the next payment interval. We offer a variety of different adjustable rate mortgages to meet your specific financing needs.

Interest Only Mortgages
These are mortgages that allow a borrower to pay the interest only portion for a set period. This enables them to qualify for a larger mortgage amount and allows them to pay a lower monthly mortgage payment, usually for the 1st 10 years.

This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid mortgage insurance or to keep your first mortgage under the conforming limit to avoid Jumbo rates. The borrower puts down 5% payment and then finances a first mortgage of 80% of the sales price and uses a second mortgage to finance the remaining 15%. Other variations are 80/10/10 or 75/15/5.

Second Mortage Loans
Subordinate to the first mortgage, these loans offer the borrower the ability to get money for home improvements, debt consolidation, or many other reasons without disturbing the first mortgage. Convenient when you have a low interest first mortgage.



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Thomson Mortgage Services, LLC. | 100 Queen Street, P.O.Box 44 | Southington, Connecticut 06489
Toll Free: 1-800-343-2504 | Local: 860-621-8005 | Fax: 860-628-2352