Types of Mortgage Loans

Learn more about our loan types, there’s bound to be one that’s perfect for you.
Your interest rate stays the same for the life of the loan. Available with 30-, 20-, 15- and 10-year terms, these fully-amortizing loans come with no pre-payment penalty, and down payments can be as low as 3%.
Adjustable Rate Mortgages (ARMs) feature interest rates that adjust with time and may be lower initially than fixed-rate mortgages. You can choose an adjustment period of 1, 3, or 5 years.

Hybrid ARMs (1/1 ARM, 3/1 ARM, 3/3 ARM, 5/1 ARM, 5/5 ARM): Get the best of both worlds, a period of stability before the loan adjustment period begins.
Fannie Mae’s HomeReady® mortgage loan can help make it easier for low-to-moderate income borrowers to realize the exciting dream of home ownership. Affordable financing, flexible terms and fixed rates are just the start of HomeReady’s®  borrower-friendly benefits.
Insured by the Federal Housing Administration, FHA loans offer competitive terms and require a down payment of just 3.5%.

A refinance could provide any number of advantages. It may lower your monthly payment, lower your interest rate, shorten or extend the number of years on your loan, or give you more favorable loan terms

USDA Rural Housing Loans are designed to help individuals and families buy a home in rural areas. Qualified borrowers can finance 100% of the home's cost. And the loan can be used for single-family homes or approved condos.
The U.S. Department of Veterans Affairs offers eligible veterans the chance to enjoy homeownership with special lending terms. Qualified borrowers can finance 100% of the home's cost – no down payment necessary.
Welcome Home Funds are available as $5,000 grants to assist homebuyers in funding reasonable down payments and closing costs incurred with the acquisition or construction of owner-occupied housing by low-income and moderate-income borrowers.
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