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There are a variety of home loans to meet your mortgage needs. Popular programs are: Fixed Rate, Adjustable Rate Mortgages, and government insured programs like FHA or VA.
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Typically the down payment for a Fixed Rate or Adjustable Rate Mortgage is 20% of your loan amount. Government backed loans such as the FHA and VA often allow a much lower down payment of 3.5%.
See side-by-side comparisons of your options
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That depends on your needs and the loan program you choose. Popular loan terms are 10, 15, 20, 25, and 30 years — and in some cases you can choose your own term (e.g., 17 years).
View side-by-side comparisons of the programs and the terms.
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Yes. Once the initial fixed rate period ends, your rate will adjust. But there is a limit to how much the rate can change. The limit for annual adjustments is called the periodic rate cap. The limit for how much the rate can change overall is called the lifetime rate cap. Learn more about Adjustable Rate Mortgages by calling our Loan Specialists now at 1-877-941-4622, see hours of operation or get started online.
The most popular government backed loan is the FHA, with flexible guidelines and requirements. If you’re a veteran, reservist, active duty service member, or a surviving spouse, the VA loan program may be a good option for you. Learn more about government loan programs: