Fixed-Rate Mortgages
Get a predictable monthly payment and keep your low interest rate for the life of your loan even if rates rise.

30 Year Fixed Rate Mortgage (Available on Conventional & FHA)
The 30-year fixed is one of the most popular loans. Many people like the fixed interest rate and lower monthly payments. But since the term of the loan is long, you'll pay more interest over the life of the loan.

15 Year Fixed Rate Mortgage (Available on Conventional & FHA)
You generally pay a lower interest rate with a 15-year loan. You will pay less interest than with a longer term and build equity quickly. Your payments will be higher.

Why choose a fixed-rate mortgage?

  • » You want a stable monthly payment for life of loan.
  • » You believe interest rates could rise in the next few years.
  • » You plan to stay in your home for many years.
Adjustable Rate Mortgages (ARM) (Available on Conventional & FHA)
Get a low interest rate for an initial payment period (3, 5, 7, or 10 years).

Why choose an adjustable-rate mortgage?

  • » You want lower initial monthly payments than a fixed-rate mortgage usually offers.
  • » You plan to own your home for 10 years or less.
  • » You think interest rates may fall in the next few years.
Interest-Only Mortgages
For the first 3 to 10 years, the interest rate and payment stay the same and you pay just the interest each month. Use the savings for other immediate needs. Why choose an interest only mortgage?
  • » Your income fluctuates (self-employed, commissioned or on a bonus schedule).
  • » You have other needs for your cash each month, and want the most flexible cash-flow options.
  • » You expect the value of your home to appreciate quickly.
Common Documentation Requirements for your Mortgage Loan