| Fixed Rate |
- You want the predictability and certainty of a stable mortgage payment
- You plan to stay in your home for several years and expect interest rates to rise
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- Interest rates or principal and interest payments that stay the same for the life of your loan
- 10, 15, 20 and 30 year terms
|
| Adjustable Rate |
- You want or need more home than you can qualify for at a fixed rate
- You believe interest rates will probably stay the same or go down
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- Qualify for a higher mortgage and enjoy a lower initial interest rate and payment
- Adjustment periods vary depending on which product you choose
|
| Affordable Housing Programs |
- You only have a small down payment or no down payment at all
- You need more flexible lending guidelines
|
- Great for first-time homebuyers
- Little or no down payment required
- Potentially lower interest rates
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| Jumbo Loans |
- You want to buy a luxury home
- You want to borrow more than $417,000
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- Choice of a fixed or adjustable rate
- Mortgage interest may be leveraged as a tax deduction (Consult a tax advisor on the deductibility of interest.)
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| FHA/VA Loans |
- You have only a small down payment or no down payment at all
- You are an eligible veteran
- You need more flexible qualifying standards
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- Great for first-time homebuyers
- Choice of a fixed or adjustable rate
- Little or no down payment required
|
