With a 30-year fixed-rate mortgage, the interest rate and monthly payment remain the same for the life of the loan. This traditional method of financing a home provides for easier budget planning and protects against fluctuating interest rates. It also gives you the maximum tax advantage by having the greatest interest deduction. If you will be staying in your home for many years and do not expect your income to increase tremendously, this may be the best option.

Conventional and Jumbo Loans Available

You can shorten your mortgage and usually get a lower interest rate with a 20-year mortgage. You’ll enjoy faster equity build-up than the standard 30-year term, plus the satisfaction of being debt-free sooner. Your payments will be higher than with a 30-year loan, however. 

15-year mortgages are gaining in popularity as homeowners seek lower interest rates and quicker prepayment. If you are several years into your current mortgage, a 15-year loan lets you take advantage of low rates without stretching out payments for another 15 or 20 years. While your payments will be higher, a 15-year mortgage can reduce your borrowing costs and help you get out of debt a lot quicker.

Conventional and Jumbo Loans Available

With a 10-year mortgage, you can pay off your home quickly and take advantage of some of the lowest rates available. If you can afford the higher payments of a 10-year loan, the interest savings are enormous.

This 30-year (or up to 40-year) loan offers a fixed interest rate for the first 3 years and then turns into a 1-Year Adjustable-Rate Mortgage for the remaining 27 years. The rate adjusts every 12 months on the anniversary of your loan. The amount of the rate change is based on the 1-Year U.S. Treasury Bill added to a predetermined margin, subject to a lifetime rate cap (ceiling) and periodic rate cap (the amount of rate increase for each adjustment). The loan is fully amortized (paid off) in 30 years if the normal payment schedule is followed. This loan can give a short-term boost to your finances with an initial rate that is significantly below market rates for 30-year fixed-rate mortgages, however your payment may change from year to year after the first 3 years.

Conventional and Jumbo Loans Available

This 30-year (or up to 40-year) loan offers a fixed interest rate for the first 5 years and then turns into a 1-Year Adjustable-Rate Mortgage for the remaining 25 years. The rate adjusts every 12 months on the anniversary of your loan. The amount of the rate change is based on the 1-Year U.S. Treasury Bill added to a predetermined margin, subject to a lifetime rate cap (ceiling) and periodic rate cap (the amount of rate increase for each adjustment). The loan is fully amortized (paid off) in 30 years if the normal payment schedule is followed. This loan can give a short-term boost to your finances with an initial rate that is significantly below market rates for 30-year fixed-rate mortgages, however your payment may change from year to year after the first 5 years.

Conventional and Jumbo Loans Available

This 30-year (or up to 40-year) loan offers a fixed interest rate for the first 7 years and then turns into a 1-Year Adjustable-Rate Mortgage for the remaining 23 years. The rate adjusts every 12 months on the anniversary of your loan. The amount of the rate change is based on the 1-Year U.S. Treasury Bill added to a predetermined margin, subject to a lifetime rate cap (ceiling) and periodic rate cap (the amount of rate increase for each adjustment). The loan is fully amortized (paid off) in 30 years if the normal payment schedule is followed. This loan can give a short-term boost to your finances with an initial rate that is significantly below market rates for 30-year fixed-rate mortgages, however your payment may change from year to year after the first 7 years.

Conventional and Jumbo Loans Available

This 30-year (or up to 40-year) loan offers a fixed interest rate for the first 10 years and then becomes a 1-year Adjustable-Rate Mortgage for the remaining 30 years.  The rate adjusts every 12 months on the anniversary of your loan.  The ammount of the rate change is based on the 1-year U.S. Treasure Bill added to a predetermined margin, subject to a lifetime rate cap (ceiling) and periodic rate cap (the amount of the rate increase for each adjustment).  The loan is fully amortized (paid off) in 30 years if the normal payment schedule is followed.  This loan can give a boost to your finances with an initial rate that could be below market rates for 30-year fixed-rate mortgages; however, your payment may change from year to year after the first 10 years.     

Conventional and Jumbo Loans Available