Fixed Rate Options
With a fixed rate mortgage, your monthly payments stay the same through the life of the loan. Fixed rate mortgages offer the consistency and peace of mind that if the market changes your rate does not.
Fixed rate mortgages are good if you:
- Plan to stay in your home for a number of years
- Are concerned about interest rates rising over the next few years and want to keep your current rate
- Prefer the stability of a monthly payment that does not change
Adjustable Rate Options
The Adjustable Rate Mortgage, also known as an ARM, is a mortgage option that is great if you plan to relocate or pay off your mortgage in 10 years or less. Not sure if an adjustable rate mortgage is right for you? Our team of lending experts will guide and help you make the best decision based on your needs.
Adjustable rate mortgages are good if you:
- Plan to move before the initial fixed period ends
- Are looking for a lower monthly payment than a fixed rate mortgage sometimes offers
- Are not concerned if rates increase