First-Time Homebuyers
We want your first mortgage to be a successful homeownership journey, so we go above and beyond to make sure we have the right mortgage for you. Our mortgage consultants partner with you throughout the entire mortgage process so that you have the benefit of expert financial advice at every step of the way. As a first-time homebuyer, you may qualify for special loan terms, such as a 3-percent down-payment on the sale price of your home, seller’s concessions, and more. This way you can experience the many emotional and financial benefits of being a homeowner sooner rather than later, while maintaining financial flexibility.
Our adjustable-rate mortgage for first-time homebuyers allows you to take advantage of competitive lower interest rates during the first 10 years, often with lower fixed initial monthly payments that are calculated over a 30-year term. After the first 10 years, the rate adjusts based on current market conditions at the time. After the 10-year term, periodic rate caps guarantee the maximum allowable increase or decrease when the rate changes, and a lifetime cap determines the maximum allowable increase in the rate over the life of the loan. However, many consumers refinance into a traditional mortgage within first 10 years at a competitive interest rate resulting in an affordable payment.