Take a look and see which ones fit your plans and budget.
Fixed-rate mortgages have a constant interest rate and monthly payments that never change.
Adjustable Rate Mortgages (ARMs) can offer the best of both worlds: lower interest rates and a fixed payment for a certain period of time. In some situations—usually if you plan to pay off your loan in only a few years—an ARM may be a more cost-effective loan. You may also want to consider an ARM if you don’t qualify for conventional loans. The interest rate may change at the end of your fixed period and each year thereafter, depending on which option you choose.
Great Western Bank is an approved lender for many states’ first-time homebuyer programs, helping families finance down payments, closing costs, and home repairs. Contact your mortgage specialist for more information.
This program helps people become homeowners by insuring mortgages. There are lots of reasons to ask your Great Western mortgage specialist for an FHA loan:
The Department of Veterans Affairs insures mortgages for eligible veterans. Qualified veterans can thus obtain financing with no down payment or monthly mortgage insurance premiums. Benefits for this type of loan include: