Mortgage Rate Options
You have a choice when it comes to how you want to pay the principal and interest on your home loan.
Fixed Rate
You pay a set interest rate for the lifetime of the loan, and your monthly payment is always the same.
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Adjustable-Rate Mortgage
The interest rate on your loan will adjust based on the market and your monthly payment will periodically change.
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Interest Only
You pay interest for the first several years of the loan, giving you a lower monthly payment during that period.
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Graduated Payments
Your monthly payment gradually increases over time, allowing you to start off with a lower monthly mortgage.
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