Key Features of a 15 Year Fixed Rate Mortgage

  • Commit to a slightly higher monthly payment and pay off your mortgage in less time
  • Keep your fixed rate so you can budget confidently
  • Get a mortgage with only 5% down payment
  • Put down 20% or more and you won’t pay mortgage insurance

Requirements

Down Payment 5% of the final loan amount
Terms 15 years, fixed rate
Credit Score 620 minimum
Mortgage Insurance No, if under 80% loan-to-value
Maximum Loan Limit Yes*
*Some “high balance” areas have loan limits above the standard level.

Key Features of a 30 Year Fixed Rate Mortgage

  • Fixed rates so you know what you’re paying every month
  • Lower monthly payments than 15 year mortgages
  • Get a mortgage with only 5% down payment
  • Put down 20% or more and you won’t pay mortgage insurance

Requirements

Down Payment 5% of the final loan amount
Terms 30 years, fixed rate
Credit Score 620 minimum
Mortgage Insurance No, if under 80% loan-to-value
Maximum Loan Limit Yes*
*Some “high balance” areas have loan limits above the standard level.

Questions? Get started now, and a licensed Loan Officer will reach out to you shortly.

More Information