Facebook 30 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. 

30 Year Fixed Mortgage

Advantages:

  • Loan amounts up to $417,000 on single family homes, and $533,850 on 2 units.
  • 95% financing available on purchase and rate/term refinances.
  • Fixed rate of interest for full term of loan.
  • Level principal and interest payments for the full term of the loan. (Payments may increase due to an increase in homeowners insurance and property tax)
  • No risk that changing market conditions will increase your monthly principal and interest payments.

Best Choice If:

  • You plan on staying in the home long-term.
  • You think interest rates will increase.
  • You don't expect your income to increase significantly over the coming years.

Disadvantages:

  • You end up paying more in interest charges over the life of the loan.
  • Cash-out refinances limited to 80% LTV.
  • Modifications not permitted.
  • Escrow required.