Which type of mortgage is best for me?

There are many different types of mortgage options available. The best mortgage for each individual depends on a number of factors including current financial picture and how long the buyer intends to keep the house. Special loan programs are available for first-time home buyers and veterans. Our Mortgage Specialists can help you evaluate your choices and make the most appropriate decision to suit your needs.

 

A few of the most popular types of loans are listed below.  Speaking with a mortgage expert is the best way to get the best mortgage for your unique situation.

Offers a competitive fixed rate and fixed payment with terms to suit your budget.

 

Adjustable Rate Mortgages (ARM) offer an introductory fixed rate for a period of time, after which the interest rate adjusts periodically, at yearly or monthly intervals.*  The ARM is designed for borrowers who expect to keep their loan only for a short period of time.  Annual and lifetime caps provide protection from large interest rate adjustments.

 

The Federal Housing Administration Loans were created for individuals who want a minimum down payment and low closing costs.  The FHA loan has lower credit qualifying standards than conventional loans.

 

Offers loans to qualified residents of Pennsylvania who have limited cash for a down payment and closing costs.

 

The VA loan, guaranteed by the U.S. Department of Veteran Affairs, is a 100% financing option for qualified current or former military personnel.

 

Offers 100% financing for qualified borrowers, available for homes in a designated USDA rural area.

 

If you are working to build a dream home for your family, we can help.  Contact one of our experienced mortgage specialists to discuss your specific needs.