Loan Options The right home mortgage loan can mean significant savings on your total mortgage costs. Whether you need conventional, government or jumbo financing, we have an option that’s right for you. Fixed Rate Loan Want stable monthly payments? Consider a fixed rate home loan. This plan is a smart long-term option for a conservative buyer. "Fixed" means that your interest rate and monthly principal and interest loan payments remain the same for the duration of the loan. The mortgage loan is generally available in 10, 15, and 30 year terms and is fully amortized during the loan term period. 5, 7, 10 Intermediate Adjustables Intermediate Adjustable Rate Mortgages (ARMs) offer a fixed initial rate that is typically lower than a 30 year fixed rate, allowing for lower monthly payments during the initial 5, 7, or 10 year terms. After that time, the home mortgage loan will adjust annually based on a predetermined index and margin. Rate changes are typically capped for each adjustment period and the life of the loan. Consider this option if you plan on selling your home before the initial fixed period or if you think interest rates will decrease over time. Government Loans VA loans offer 100% financing and are available for eligible veterans. FHA loans are insured by the Federal Housing Administration and offer flexibility for a lower down payment and credit qualifications.