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Fixed, Adjustable, Jumbo
Whether you’re buying or refinancing, our expert mortgage loan advisors will help you find a solution that fits your needs:
Fixed Rate Mortgage
If consistency is your goal, a fixed rate mortgage may be the right choice for you. Lock in your rate upfront and enjoy that same rate for the entire life of your loan.
The most commonly selected term is the 30-year, as it creates a lower monthly payment. If you can afford a higher monthly payment, however, a 15-year term may be a better option, as you’ll pay much less in interest overall and eliminate your debt sooner.
Adjustable Rate Mortgage (ARM)
If you’re looking for a lower initial rate to increase your borrowing power or lower your initial monthly payment, or if you plan to own your home for only a short period of time, an ARM might be a smart choice for you. In comparison to a fixed rate mortgage, an ARM typically provides a lower initial interest rate at first, but it may rise or fall during the life of the loan, depending on the interest rate market.
The 1/1 adjusts annually, while the 3, 5 and 7 options maintain a fixed rate for the corresponding initial period and then convert to a 1-year ARM.
If you need a home loan for more than $417,000, you may need a jumbo mortgage. Keep in mind that due to the increased financial risk of higher loan amounts, rates generally vary from those offered on conventional loan amounts.
- Jumbo up to $850,000
- 10-, 15-, 20- and 30-year fixed rate terms
- 1/1, 3/1, 5/1 and 7/1 adjustable rates
- Jumbo up to $4,000,000
- 15- and 30-year fixed terms
- 5/1 adjustable rates