Selecting a Mortgage

Whether you are buying a condo, townhouse, or single-family home – your new home is a significant commitment of your financial resources. Selecting the right mortgage may make a big difference in your monthly payments and the overall cost of your loan.

It is important to understand how different mortgages may change your monthly payments over time.  It is just as important to take a look at your financial picture to understand which mortgage is best for you in the long run. 

Take the time to understand mortgage differences.

What do you need to know in order to make the best mortgage decision?

• Learn how to evaluate different mortgages, and use our mortgage worksheet.
• Understand the differences between fixed- and adjustable-rate mortgages.
• Know how 15-year and 30-year mortgages change your monthly payments.
• Understand down payments and closing costs.
• Understand if you should pay points to lower the mortgage rate.