FIXED RATE LOANS
Stability. No fluctuation or scary jumps in your payment. Making it easy to budget…and plan for your future. Get the lowest rate and payment possible, and then trust it won’t ever go up.
ADJUSTABLE RATE LOANS
Adjustable rates can save you some NOW money with lower rates & payments. And can be a good option if you plan to stay in the home for less than 5-7 years. Or if rates are high and almost certain to fall.
Arm Loans are fixed for a time and then adjust based on current rates. So they can be really advantageous. And should also be approached with wisdom.
FHA & CONVENTIONAL FINANCING
If you have lower credit than you’d prefer or if you’re looking to put the minimum of 3.5% down on a home purchase, the government-insured FHA loan is an amazing option. A Conventional Loan requires a larger down payment, but can help you pay less each month, even if the rate is the same.