FIXED RATE MORTGAGE

For home purchase or refinancing, our fixed rate, fixed term mortgages provide stable monthly payments for the life of the loan.  If you expect to live in your home for many years, having the same interest rate and stable, predictable payments may be your key concern.  We offer fixed rate mortgages with 10, 15, 20 and 30 year terms.  Choose a longer term for lower payments or a shorter term to save on total interest costs and to own your home free and clear faster.

ADJUSTABLE RATE MORTGAGE
An Adjustable Rate Mortgage (ARM) maintains the same initial interest rate for the first 3, 5, or 7, years of your loan, depending on the term you choose.  Your interest rate then adjusts annually, and can increase or decrease as market conditions change.  One advantage of an ARM is that your initial interest rate will be lower than a fixed rate mortgage.  If you plan to live in your home for a short period of time, for example five years or less, this may be the route you want to take.  At the end of the fixed period if you decide to stay in your home longer, you may have the option to convert the ARM to a fixed rate mortgage.

CONSTRUCTION TO PERMANENT LOAN*

Buy a lot and build a new home, with access to construction money upfront.  Apply one time and close just one time at the beginning of the construction process.  Then draw funds as needed during construction and make interest only payments on the amount drawn.  When the home is finished, the loan converts to a fixed rate mortgage.  See our Construction to Permanent Mortgage Timeline for more details.*