Loan Type

Right for You If

Advantages

Fixed Rate

• You want the predictability and certainty of a stable   mortgage payment·
• You plan to stay in your home for several years and expect interest rates to rise

• Interest rates or principal and interest payments that stay the same for the life of your loan
• 10, 15, 20 and 30 year terms

Adjustable Rate

• You want or need more home than you can qualify for at a fixed rate
• You believe interest rates will probably stay the same or go down

• Qualify for a higher mortgage and enjoy a lower initial interest rate and payment
• Adjustment periods vary depending on which product you choose

Affordable Housing Programs

• You only have a small down payment or no down payment at all
• You need more flexible lending guidelines

• Great for first-time homebuyers·
• Little or no down payment required 
• Potentially lower interest rates

Jumbo Loans

• You want to buy a luxury home
• You want to borrow more than $417,000

• Choice of a fixed or adjustable rate
• Mortgage interest may be leveraged as a tax deduction (Consult a tax advisor on the deductibility of interest.)

FHA/VA Loans

• You have only a small down payment or no down payment at all
• You are an eligible veteran
• You need more flexible qualifying standards

• Great for first-time homebuyers
• Choice of a fixed or adjustable rate
• Little or no down payment required