There are many loan programs to fit almost any need. Please call and ask which loan program best fits your situation.
15-Year, 20-Year, 25-Year, 30-Year Fixed Rate
Principal and Interest portion of the payment and interest rate stay the full term of the loan.
All in One Loan - SMART LOAN - Combines Mortgage and Bank Account
This loan is far less dependent on interest rates. It is an efficient home finance program that combines your separate mortgage account with your banking account.
Any deposits made into the account reduce the principal balance automatically as that deposit is applied or swept against the balance. The funds are still there to use---it just does the calculation for the new principal balance.
Interest is calculated daily based on the principal balance that day, and a month's worth of interest is added back or swept back onto the principal balance calculation. No separate mortgage payment is made to a 3rd party service company. Any expenses you pay for other bills coming out of the account also get added back onto the principal balance. As long as you are depositing more than you are spending (which is typically what you want anyway), the principal balance continues to decrease, paying off the mortgage in half the time of a regular loan, saving interest over the life of the loan. Continue to have access to the equity in your home for other purchases, home improvements, college expenses, investing elsewhere, etc. without refinancing
The account is like a regular checking account and comes with ATM, checks, etc..
5/1, 7/1, 10/1 Fixed Rate ARM
Rate is fixed for the first 5, 7, or 10 years, then shifts to an adjustable rate mortgage (ARM).