Purchasing or refinancing a home is a major decision and we want to be there for you. Whether you're buying your first home, making the next move or simply refinancing an existing mortgage, our award-winning mortgage professionals will help find the right mortgage option to best meet your financial goals.

We offer a full range of mortgage options along with a fast, convenient application process and a quick closing.

When you're ready to discuss your home loan options contact our friendly mortgage professionals. They'll walk you through the process and help you find the perfect mortgage solution to fit your needs.

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Fixed-Rate Mortgages Vs. Adjustable-Rate Mortgage Options

Fixed-Rate Mortgages

When it comes to credit union loan rates, we are dedicated to delivering affordable loan types that help you achieve your goals. A fixed-rate mortgage financing option ensures that your rate is locked in for the life of the loan. 

The fixed-rate loan option is ideal for homeowners looking for an easy way to budget long term. Choose from a 10, 15, 20 or 30-year fixed-rate mortgage depending on how long you plan to stay in the home.

This loan option offers a fixed interest rate for the term of the loan, keeping both rates and payments steady. If you’re looking for the possibility of lower interest payments and rates, an adjustable-rate mortgage (ARM) may be for you.

For additional help with your mortgage loan, contact our knowledgeable team today to get started.

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Adjustable-Rate Mortgages

The biggest difference between these types of mortgage financing options is that an adjustable-rate mortgage has the ability to fluctuate. Rates are typically set below the market rate, yet could climb and fall over time. 

The biggest advantage of choosing an adjustable-rate mortgage is the initial savings compared to a fixed-rate mortgage. With typically lower rates to start, this also means lower payments for the initial rate set for this mortgage option.

Overall, be prepared for changes periodically. Monthly payments could be higher or lower depending on the interest rate index. An adjustable-rate mortgage is a great option for homeowners who know in advance that they will be relocating or able to pay off the loan in a few years.

Contact us for more information about getting started with the right mortgage loan option for your finances.

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Find the Mortgage that's right for you.

Ready to apply? Apply online or contact us at 757-877-2444!

  • Choose from a variety of mortgages with fixed or adjustable rates and different terms, whether you're buying a home or refinancing.

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    If you've had your mortgage for several years, now could be the ideal time to refinance to a lower interest rate.

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    Are you ready? 1st Advantage offers a simple application process and quick closings.

*APR: Annual Percentage Rate. Rates and terms based on credit criteria. Credit restrictions apply. Interest rates range from 2.490% to 6.125%. The interest rate charged and the annual percentage rate are constant for the life of the loan. Assuming a $200,000 loan amount, a 15-year term, and a 2.668% APR, you would make monthly payments of $1332.64. Payments are estimates only and only include principle and interest. Minimum/Maximum: The minimum refinance loan amount is $50,000. Interest rates are subject to change and are based on credit score, loan product, loan term, and loan value.