The advantage of a fixed rate mortgage is that the interest rate stays the same. A fixed rate mortgage provides you with the comfort of knowing your monthly principal and interest payment will never change for the duration of the loan, helping you plan for your financial future.
An Adjustable Rate Mortgage lets you take advantage of low interest rates. The interest rate typically is fixed at a lower initial rate for a set period of time and then it adjusts regularly based on the economic index.
Depending on your situation you may be eligible for one of our special lending programs. These programs are designed for low-to-moderate income borrowers, may allow for greater underwriting flexibility, and may require low down payment requirements.