Conventional Home Loans

Conventional Home Loans

Harvest Financial Associates, LLC offer two types of Conventional Home Loans:

  • Fixed Rate Mortgages

  • Adjustable Rate Mortgages (ARMs)

Fixed Rate Mortgage Advantages 

  • Know exactly how much your monthly payment will be.

  • Great option if you plan to stay in your home for a number of years.

  • Your interest rate is fixed for the length of the loan.

  • Mortgage terms that let you pay off your mortgage sooner.

  • You can lower your monthly payments by spreading them out over a longer period of time. • You can choose from a variety of terms.

 Adjustable Rate Mortgage (ARM) Advantages

  • Starts out with a lower monthly interest rate than a fixed rate loan.

  • Attractive interest rate for the first several years of your loan, then adjusts annually for the remainder of your mortgage term based on rates in effect at the time of the scheduled adjustment.

  • Flexibility if you expect future income growth or plan to move or refinance in a few years.

  • Your interest rate is fixed for 5, 7, or 10 years (based on the chosen product), and becomes variable for the remaining loan term, adjusting every year thereafter. You can choose a 3/1, 5/1, 7/1, or 10/1 ARM.