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

Savings Account – South Carolina

If you live in South Carolina and are looking for a savings account, your local First Bank can help. We offer savings accounts to meet a variety of needs, and we are dedicated to helping you find the best...

How Much Money Should I Have Saved by the Time I am 30?

Are you approaching 30? How much money do you have saved? According to CNN Money, someone between the ages of 25 and 30, who makes around $40,000 a year, should have at least $4,000 saved. However, because...

Small Business Loans for Women – High Point, NC

First Bank has small business loans for women who want to open a business in the High Point, NC, area. This metropolitan area currently sits at 66th on Forbes list of Best Places for Business and Careers in the nation. Our...

Current Mortgage Rates 30-Year Fixed

Is now the right time to buy the house you have your heart set on? One important thing to consider is the current mortgage rate trends and whether a 30-year fixed-rate mortgage is a good fit for you. At First Bank, our...

Checking Account Comparison – South Carolina

With over 75 banks located in the state of South Carolina, checking account comparison can be overwhelming. If you live in South Carolina and are looking at opening a checking account, consider stopping in...

Workers’ Compensation Insurance 101

If you’re starting a business and are unsure of the purpose of workers’ compensation insurance or how to acquire it, then you’ve come to the right place. This kind of state-mandated insurance covers...

Get Maximum Flexibility With a Small Business Credit Card

Many small business owners often find themselves managing their business operations, financials, customer service and more. First Bank wants to lessen your workload with a small business credit card to streamline your...

What is an Unsecured Personal Loan?

If you need help covering unexpected expenses, you may be asking the question, “What is an unsecured personal loan?” An unsecured personal loan is a loan given out without the involvement of any collateral. It...

Get a Flexible College Savings Account at First Bank in Albemarle, NC

Nestled in the Piedmont region of North Carolina, Albemarle, NC, is home to sprawling hills, streams and forests. Whether you’re attending local Stanly Community College or you’re planning on leaving the quaint...

Long-Term Installment Loans

First Bank offers long-term installment loans and other types of lending that help small businesses cover expenses. The government-backed Small Business Association (SBA) helps business owners acquire...