Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

Where to Get 15-Year Mortgage Rates

If you’re ready to buy a home, you’re probably wondering where to get 15-year mortgage rates, or you may just be wondering what a mortgage is. First Bank will go over your options with you and help you determine what type of home loan is best, whether that be a 15-year mortgage, or a 3/3 adjustable rate mortgage.

Types of Loans at First Bank

Before we tell you how and where to get 15-year mortgage rates, we’ll go over some of First Bank’s mortgage options. We offer:

  • Conventional loans
  • Jumbo loans
  • Government loans
  • MedPro loans
  • Construction loans
  • Dream It, Own It

If you are a first time home buyer, you’re probably looking for a conventional loan. We offer two types of conventional loans: fixed-rate and adjustable-rate.

Adjustable-Rate Mortgages vs. Fixed-Rate Mortgages

Conventional adjustable-rate mortgages (ARMs) have interest rates that will change periodically depending on shifts in a corresponding financial index that’s associated with the loan. This basically means that your rate will change, causing your monthly payment to increase or decrease.

ARMs can be beneficial for some home buyers because they typically have lower initial interest rates than fixed-mortgages, and they provide homeowners flexibility.

Conventional fixed-rate mortgages offer a more straightforward approach to home buying. With a fixed-rate mortgage, your monthly interest rate never changes, making it easier for you to set a monthly budget. A lot of people prefer fixed-rate mortgages because they offer protection from rising interest rates for the life of the loan.

Secure a Mortgage with First Bank

We hope you feel a little more prepared to take on a mortgage and buy the house of your dreams. If you’re ready to apply for a mortgage loan*, visit your local First Bank, or contact our mortgage loan experts.


*Loans subject to credit approval.

————

Sources:

Investopedia: http://www.investopedia.com/terms/a/arm.asp

Trending Topics

Saving for College – North Carolina

Paying for college begins well before your child ever sets foot on campus. Saving for college from day one is an effective way of combating the rising costs of today’s colleges and universities. There are nearly 200...

The Best Personal Banking Services for You

Finding the best personal banking services for your financial needs doesn’t need to be difficult. The factors that go into evaluating available options can include convenience, fees, and interest rates. It’s...

NC Bank

If you are looking for one of the best North Carolina banks, consider a visit to your local First Bank. First Bank is an NC bank that is small enough to know you by name, but large enough to meet all of your banking needs....

Apply for a Personal Loan in Lillington, NC

If you’re looking to apply for a personal loan* in Lillington, NC, stop by the First Bank on South Main Street for competitive loan rates and flexible terms. Our banking experts will help you customize your personal...

Bank Owned Homes – Find Bank Owned Homes for Sale in Your Area

If you’re in the market for a great deal on a home, a bank-owned home could be just the thing for you! With First Bank, you can easily search through a list of our bank-owned properties for sale. Bank-owned...

3 Tips for Saving Money in Your 20s

Saving money in your 20s may seem like an impossible task, but did you know that your 20s is actually prime time to start setting money aside for you future? If you’re wondering how to save money in your 20s, follow...

Small Business Loan Requirements in Asheville, NC

Did you know that loan approval rates at small banks have increased in recent months? As you’re looking into small business loan requirements in Asheville, NC, consider a community bank like First Bank. Common...

Block Out Stress with a Worry-Free Savings Account at First Bank in Sanford, NC

According to research from the American Psychological Association, money is the second-leading cause of stress falling closely behind job pressure. At First Bank, we strive to eliminate money-related stress by offering a...

What Is a Child Savings Account?

“What is a child savings account?” In a child savings account, you can deposit spare change, birthday money and other loose funds to accrue some interest throughout their childhood. This teaches children...

Loan For a New Roof – Asheville NC

Looking for a loan for a new roof in Asheville, NC? A new roof can be a costly expense for a home or business and you may need to find alternative ways to pay for such a project. If you’re in need of a loan...