Facebook 15 Year Fixed Mortgage

 

We will be performing maintenance to our online and mobile banking systems on Saturday, December 15, 2018 from 9:00 pm till 12:00 am. You will be unable to access your account during this time. 

15 Year Fixed

Advantages:

  • Loan amounts up to $417,000 on single family homes, and $533,850 on 2 units.
  • Cut mortgage length in half.
  • Save significant amount of money in interest payments.
  • Build equity in your home faster.

Best Choice If:

  • You want to own your home more quickly.
  • You want to retire debt free.
  • You want a low interest rate.

Disadvantages:

  • Your monthly payment will be significantly higher than with a 30-year mortgage.
  • Maximum loan to value is 95% on purchases and rate/term refinances. 75% on condominiums and Townhomes.
  • Cash-out refinances limited to 80% LTV.
  • Escrow required.