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Choosing a Loan Program

There is not a simple answer to choosing a loan program. The right type of mortgage for you can depend on many different factors, including:

  • Your current financial picture
  • How you expect your finances to change
  • How long you intend to keep your house
  • How comfortable you are with your mortgage payment changing

For example, a mortgage with a shorter repayment period can save you thousands of dollars in interest payments over the life of the loan, but your monthly payments will be higher. An adjustable rate mortgage may get you started with a lower monthly payment than a fixed rate mortgage, but your payments could be higher when the interest rate changes.

The best way to find the "right" answer is to discuss your finances, your future plans and financial prospects, and your payment preferences with our mortgage professionals.