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Finding the Right Loan

A mortgage is a serious long-term financial commitment and a legally binding contract. Selecting the right mortgage may make a big difference in your monthly payments and the overall cost of your loan.

Choosing the right mortgage means:

  • Doing your homework about the different loan types.
  • Understanding how each one may change your monthly payments in the future.

To ensure that you obtain the mortgage that’s right for you and meets your financial goals, it’s important that you talk with your lender. Also consider discussing your options with a certified housing counselor.

There are two main types of mortgages – fixed-rate and adjustable rate – that have their own set of features and benefits that need to be carefully considered.

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