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Fixed Rate Mortgages
You plan to be in your home for a number of years and want the same monthly payment
Features
- Good for purchase or refinance, with terms of 15 and 30 years.
- The interest rate and monthly payment stay the same for the life of the loan.
- No penalty for prepaying your loan.
- Use your loan to buy a primary residence, invest in a second home or buy an income property.
Why choose a fixed-rate mortgage?
- You want a stable monthly payment.
- You believe interest rates could rise in the next few years.
- You plan to stay in your home for many years.
Adjustable Rate Mortgages
You're looking for lower initial monthly payments, while qualifying for the most home you can buy.
Features
- Good for purchase or refinance, with terms of 15 and 30 years.
- Initial fixed interest rate for 1 year, 3 years, 5 years and 7 years.
- Protection against unlimited interest rate increases.
- Many of our ARMs are assumable.
- Use your loan to buy a primary residence, invest in a second home or buy an income property.
Why choose an ARM?
- You want lower initial monthly payments than a fixed-rate mortgage usually offers.
- Lower initial monthly payments means you can buy more home.
- You plan to own your own home for the initial fixed rate period.
- You think interest rates may be headed down in the next few years.
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