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FIXED OR ADJUSTABLE RATE MORTGAGES
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Fixed Rate Mortgage |
| With a fixed rate mortgage, payments remain constant, allowing you to plan and budget without factoring potential interest rate fluctuations. It may be a good choice for people who expect to live in a home for an extended period of time, or who want to lock in current low interest rates. |
- A variety of repayment terms
- The interest rate and principal and interest monthly payment stay the same for the life of the loan. Escrow payment amounts may vary
- Use your loan to buy a primary residence, invest in a second home or buy an income property
- Jumbo loans.
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Adjustable Rate Mortgages (ARMs) |
| ARMs allow you to get the most home for the least payment by offering a lower initial interest rate than a fixed rate mortgage. Since the rate is flexible, ARMs are most appropriate for people who desire lower monthly payments during the first years of home ownership. |
- 5/1, ARM programs
- Periodic and lifetime interest rate caps
- Jumbo loans
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If you are interested in applying for an Adjustable Rate Mortgage (ARM),
please click here to view the Consumer Handbook on Adjustable Rate Mortgages. |
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Pre-Approved Mortgage |
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A Pre-Approved Mortgage loan commitment will allow you to shop for a new home like a cash buyer. Generally, your loan closing will require an acceptable property appraisal, title commitment, inspections, and verification of cash needed for closing; however, other conditions may apply. Ask our Mortgage Loan Specialists for details.
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Ready to get started?
Click on the Apply Now button below and
provide the requested information. |
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Copyright ©2005, Southside Bank
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