10-Year Fixed Rate Mortgage
Fixed-rate mortgages are our flagship products, since many consumers prefer the stability of both a fixed interest rate and a fixed payment over the life of the loan. Borrowers who want to build equity faster should select the shortest loan term they can afford.

15-Year Fixed Rate Mortgage
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn't that great.

20-Year Fixed Rate Mortgage
Lock in a long-term interest rate with a stable, predictable monthly payment.

30-Year Fixed Rate Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

40-Year Fixed Rate Mortgage
By increasing the standard loan term from 30 to 40 years, monthly payments are lower, thus making them more affordable and increasing the borrowers' purchasing power. This mortgage is ideal for borrowers who face affordability issues and think homeownership is beyond their reach. First-time homebuyers, or those living in high-cost areas seeking manageable monthly payments may find this amortization term attractive.

Adjustable Rate Mortgages (ARM)
When it comes to ARMs there's a basic rule to remember...the longer you ask the lender to charge you a specific rate, the more expensive the loan.

ARM (1 year, 3 year, 5 year, 7 year or 10 year)
These increasingly popular ARMS—1, 3, 5, 7 or 10 year—can offer the best of both worlds: lower interest rates and a fixed payment for a longer period. For example, a "5 yr. ARM loan" has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years. It's a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.

Bi-weekly Mortgage
Meets the needs of home buyers looking for faster principal reduction and lower total interest payments with the bi-weekly mortgage. Similar to traditional fixed-rate, level payment, fully amortizing mortgages, except the borrower's payments are made every 14 days instead of once a month. Each payment is applied immediately to the loan's principle balance, which means that the bi-weekly mortgage will be paid off much sooner, resulting in significant interest savings over the life of the loan.

7-Year Balloon Mortgage
The 7-Year Balloon with a conditional refinancing option may be a good alternative for you. Monthly payments are attractive because they are based on a 30-year amortization, while yields are based on the shorter term of the loan. The conditional refinancing option provides a safety net, allowing you to refinance at maturity with a 23-year fixed-rate mortgage, provided certain conditions are met. 

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