What type of loan is right for you?
Should you get a fixed-rate or adjustable rate mortgage? A private conventional loan or a government-backed loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer. There are many types of loans available depending on your circumstances, but here are a few of the more common programs.
Fixed Rate
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.
FHA Loans
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA Loans
VA loans are mortgages guaranteed by the Department of Veteran Affairs for qualified veterans, active service members and their spouses.
Wondering what type of mortgage is right for you?
Want more information?
Let’s discuss your options and find you the best loan for your current situation.