Use our goal analyzer to help guide your choice of mortgage product.
My Goal: To Have Stable Mortgage Payments
Answer: Choose a fixed rate loan to lock in a rate that won't ever change. An ARM could be a good option if you plan to sell within the initial fixed rate period.
Considerations: You'll minimize your monthly payment by opting for a 30-year fixed, while a 15-year fixed will let you pay off your loan sooner and realize substantial interest savings. Keep in mind, however, that while the rate may be lower for the 15-year, the monthly payment will still be quite a bit higher than that of the 30-year.
My Goal: To Minimize My Monthly Mortgage Payment
Answer: Choose from our range of ARM loans.
Considerations: You'll generally get a better rate and lower initial payments with our ARM products. However, if you plan to keep the home beyond the initial fixed rate period of the loan, your rate and payments could increase.
My Goal: To Maximize My Interest Savings
Answer: Choose a 15-year fixed rate loan or possibly an ARM.
Considerations: A 15-year fixed will result in you paying much less interest over the term of the loan as compared to a 30-year fixed. Our ARM products will generally carry a lower initial rate than that of our fixed rate loans and could be a good savings option for you if you intend to sell the property before the initial fixed rate period expires. After that, rates and payments could increase.