Home Mortgage Program Choices
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Fixed Rate Mortgages
These mortgage loans have fixed interest rates for the duration of the loan. Fixed rate mortgages do not change and they are not tied to an index, unlike adjustable rate mortgages. The interest rate is fixed in advance at a specific interest rate.
Adjustable Rate Mortgages
These mortgage loans, often referred to as ARMs, have interest rates that periodically adjust based on a variety of indices. ARMs usually allow borrowers to lower their initial payments, in exchange for assuming the risk of interest rate changes.
FHA Loans
These loans are insured by government-backed companies and make it more affordable for first-time homebuyers and lower income families to get into the housing market.
VA Loans
Veterans of the United States military are eligible for loans that lower the income and down payment requirements for mortgage financing.