Make sure you understand the features associated with the loan program you choose, and that it meets your unique financial needs. It is important to know that with adjustable rate mortgages, your payment and rate may increase significantly over time. If there is a prepayment penalty, there should be some benefit in terms of rate or fees in exchange for the substantial cost if the loan is paid off before the penalty term expires. Some loan products may not be available in all states. All loans require underwriting approval and some features require guidelines to be met before borrower eligibility can be determined. Subject to review of credit, title and collateral.