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 homebuyer, 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 homebuyers 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 help center.


*Loans subject to credit approval.

————

Sources:

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

Trending Topics
6 Steps to Starting a Small Business in North Carolina First, you had an idea for a small business. Now, you want to set that idea in motion. If you are looking to start a small business in North Carolina,… Where To Get 20 Year Mortgage Rates When you’re ready to buy a house, it’s easy to get caught up in all of the excitement of shopping and forget about the financial part. Once you’ve found the… Best Savings Account Rates – Wilmington, NC From the historic mile-long Riverwalk to the miles of pristine beaches, Wilmington, NC, has many things to offer. You may be planning to attend college, buy a house, or even… 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… What Are 15 Year Mortgage Rates? What are 15-year mortgage rates? It seems like a long time doesn’t it? But when you really think about it, 15 years is nothing. Think of all the things you’ve… Personal Loan Rates In Sanford, NC If you live in Sanford, NC, and are looking for some of the best personal loan rates in the area, your local First Bank can help. We offer personal loans with flexible… Find Small Business Loans in South Carolina It can be hard finding the right small business loans in South Carolina, especially when you're looking for a new bank. At First Bank, we're have six convenient locations across South… High Interest Checking Accounts In Albemarle, NC It was not far from Albemarle, NC where in 1799 the 17-pound hunk of gold was found that sparked America’s first gold rush. While you may not strike it rich… Banks Near Me When you are trying to find banks near you, there are many options. With so many choices, it can be hard to be sure you’re choosing the right bank for… Small Business Loans for Women in South Carolina First Bank in South Carolina is dedicated to helping women entrepreneurs get their businesses up and running. That is why we offer a variety of small business loans with competitive…