Understanding what kind of mortgage loan you need can be like
learning a new language. Here are some of our most popular loans to
help get you started. Once you are working with one of our lenders
they will take the time to learn about your needs and your goals
and find the loan that's right for you.
Monthly principal and interest payments remain the same
throughout the life of the loan. The most common fixed rate
mortgage terms are 10, 15, 20 and 30 years.
Monthly principal and interest payments change after a set
period of time (1, 3, 5, 7 or 10 years), based on a standard
financial index.
A lot loan allows you to start paying on land before you start
construction. Once you're ready to build, your lot loan can become
a construction loan. (Certain restrictions apply)
To fund the construction of your new home, we'll make payments
to the builder as the work progresses and you'll make interest
payments on only the funds that have been disbursed during
building.
For those in the market for luxury or higher-end homes, a jumbo
loan (those that exceed the maximum loan amount allowed by the most
mortgage investors) could be the best option.
For more mortgage words and meanings, go to our
Resource Center Glossary.