Mortgage Info

If you’re new to the home buying process or simply want to rethink your mortgage, you may be wondering what exactly goes into a mortgage, as well as what types are available to you. While we can help you work out the best plan for you and your needs, there are a few basics to keep in mind.

Fixed rate mortgages use interest rates that stay the same throughout the duration of your loan. This type of loan is so popular (about 75% of mortgages are fixed rate) because it’s dependable—you always know exactly what to expect in terms of payment. Fixed rate mortgages are most common over 30 years, but may also last 10 or 15 years depending on your specific case.

Adjustable rate mortgages are a little more flexible. These types of loans change over time after a certain fixed period, so it’s important to know your finances and be able to anticipate (and provide for) changes in payment. There are several different types of adjustable rate mortgages, so we suggest consulting with us to decide which variety will work for you.

FHA Mortgage Loans allow you to put down a down payment as low as 3.5% of the purchase price. It also helps provide financial help for seniors and allows you to include the costs of making your home more energy efficient in the mortgage. 

VA Loans are available to servicemembers, veterans and eligible surviving spouses own a home. They are provided by private lenders, and mortgage companies.