With a fixed rate mortgage, you know exactly what your interest rate and monthly payment will be for the life of the loan.  So if you prefer a steady, predictable payment schedule, this type of loan may be right for you.

30-Year Term – Our most popular loan. The interest rate is fixed, and will not change during the 30 years.

10-Year, 15-Year and 20-Year Terms – These loans offer the same features as a traditional 30-year term, but a shorter repayment term so you can build equity or pay off your loan faster.

With an Adjustable Rate Mortgage (ARM), your interest rate changes at specific intervals, so the amount of your monthly payment could increase or decrease.  Often, ARM loans provide a lower initial rate compared to a fixed rate loan.

30-Year ARMs – These loans start off with a fixed rate for the first few years, then begin adjusting up or down for the remainder of the 30-year term. The 3/1 ARM is fixed for the first three years, then adjusts annually for the remaining 27 years. The 5/1 ARM is fixed for five years, and adjusts for the remaining 25 years. The 7/1 and 10/1 ARMs are fixed for 7 and 10 years, then adjust for the remaining 23 and 20 years.

FHA Loans: These loans have a smaller downpayment. As low as a 3.5% downpayment and the money can come from a family member, employer or charitable organization as a gift.  Because FHA insures your mortgage, lenders may be more willing to give you loan terms that make it easier for you to qualify. You don't have to have perfect credit to get an FHA-insured mortgage. In fact, even if you have had credit problems, such as a bankruptcy, it's easier for you to qualify for an FHA-insured loan than a conventional loan.

Home equity loans can be used for debt consolidation, educational expenses, home improvements, and other purposes as well. Lock into a Fixed rate and your payments will be fixed for the term of the loan.