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Types of Loans We Offer

Thirty-Year Fixed Rate Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

Fifteen-Year Fixed Rate Mortgage
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn't that great.

FHA Loans

A mortgage insured by the Federal Housing Administration (FHA). FHA loans are also known as government mortgages.

VA Loans

A mortgage for veterans and service persons.  The loan is guaranteed by the Department of Veterans Affairs (VA) and requires low or no down payment.

 

Insight Credit Union
P.O. Box 4900, Orlando, FL  32802
Office:  (866) 486-0528
Fax:  (913) 981-1655
Realestate@truhomesolutions.com
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