Good mortgage rates with home loans are hard to come by, but with our team of talented mortgage lender, we can make things happen. We make it possible for homeowners to have lower monthly payments by having lower interest rates. We understand that each consumer has different financial situation they are in, so we tailor our mortgage loans and packages according to their needs.
Variety of Mortgage Rates
We have a variety of home mortgage rates offered to our borrowers:
• Fixed rates
• Adjustable rates
• Refinance rates
• Jumbo rates
• Subprime rates
• ...and so much more
Among the mortgage rates listed fixed rates and adjustable rate mortgage is quite popular with homebuyers. Here is an explanation of each to help you better understand what may be better for you.
Fixed Rates
A fixed rate mortgage is when the rate is locked in until paid in full. With these loans, your monthly payment for interest and principal never changes. Therefore, the payments will be steady throughout the time of the mortgage loan. What makes fixed rate mortgages convenient is how the monthly payments are predictable instead of having to guess the varying changes with an adjustable rate mortgage. Down payments required on these loans can be as low as 5%. If you want predictable payments over the life of your loan and don't mind paying a bit more for this assurance, the fixed rate mortgage may be the best option for you. A fixed rate mortgage is very stable for the first time home buyers. It provides security in which they are informed in how much they will pay monthly until the loan is paid off. While the mortgage interest rates may fluctuate over time, you will always be sure that the interest rate you are paying will never change. Among mortgage loan buyers across the nation, a fixed rate mortgage is commonly the most popular choice as more than 75% of mortgages are fixed rate mortgages.
Adjustable Rates
If you are looking into making a bigger mortgage loan, you may want to look into an adjustable rate mortgage, also known as ARMs. A positive point in an adjustable rate mortgage is that if interest rates decide to fall, there is no need to refinance your mortgage loan; the rates will automatically be calculated into the monthly payment and you will be able to pay less money each month. With that being said, interest rates do not always stay low. There are times when rates will skyrocket almost to its highest peak. At that point, the monthly payments will be substantially bigger than ones made before when the rates were lower. By having an adjustable rate mortgage, it is more like a gamble between the monthly payments and the interest rate market.
