COMPARE ALL LOAN OPTIONS

BENEFITS

  • Easy to understand and predict
  • No prepayment penalties
  • Great for long-term homeowners

DETAILS

A fixed rate mortgage is a mortgage loan that has a set interest rate for the entire life of the loan. It does not fluctuate with market changes and can only be altered through a refinance.

BENEFITS

  • Low initial rates
  • Low monthly payments in the beginning, as you get used to being a homeowner
  • Great for short-term homeowners

DETAILS

An adjustable rate mortgage is a mortgage loan with a variable interest rate. The rate fluctuates over the life of the loan, typically starting out lower and rising as the market demands.

BENEFITS

  • Low down payment
  • Competitive interest rates
  • Higher debt-to-income ratios allowed
  • Lower credit scores allowed

DETAILS

FHA loans are government-insured loans backed by the Federal Housing Authority. They are designed for low- to moderate-income earners and typically come with the lowest down payments.

BENEFITS

  • No down payment required
  • No private mortgage insurance required
  • Low interest rates
  • 100 percent financing

DETAILS

A VA loan is a mortgage loan that is backed by the U.S. Department of Veterans Affairs, or VA. It is available to military service members, veterans, and their immediate family members.

BENEFITS

  • Available in fixed and adjustable rate options
  • Large loan limits

DETAILS

A jumbo loan mortgage is any home loan that is more than the conforming limit of $453,100 according to Fannie Mae guidelines on conventional mortgages.

BENEFITS

  • No down payment
  • No prepayment penalties
  • No limit on cash contributions
  • 100 percent financing

DETAILS

A rural housing loan, also known as a USDA loan, is backed by the U.S. Department of Agriculture and is designed to encourage homeownership in America’s more rural and remote locations. They’re ideal for low- and middle-income earners who may have difficulty obtaining other forms of financing.

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