30 Year Fixed Rate Mortgage
The 30 year fixed rate mortgage is one of the most popular and secure home loan options available, especially if you want your monthly payments to be low and never change.
15 Year Fixed Rate Mortgage
If you’re looking to save thousands in interest expense and you want to own your home quicker versus a 30 year fixed rate mortgage, a 15 year fixed rate mortgage could be good for you. Plus, your payment and interest rate will never change during the term of this mortgage
Adjustable Rate Mortgage (ARM)
Take advantage of the lowest rate available with an adjustable rate mortgage! It’s a great loan option if rates are on the decline or you’re staying in your home for a short time.
Offering loan flexibility and rate security if you want it, an FHA loan is an easy way to get a new home loan. Down payments can be as low as 3.5%.
With relaxed credit standards and low down payment options, the VA loan is geared specifically to help veterans and military personnel get a mortgage and own a home.
If your home loan amount exceeds the current conforming loan limit (in most cases $417,000), a Jumbo loan is likely a good choice for you. Jumbo loans can be of the fixed or adjustable variety.
Interest Only Mortgage
An interest only mortgage is great if you are interested in the lowest possible monthly payment for an initial period of time.