New Home Purchases - Close in 28 Days or Less!
Looking into Home Purchase? Learn about term options and loan programs to find the mortgage loan that is best for you.
New Home Purchase Mortgage Terms
Fixed Rate Mortgage Loans
Fixed rate mortgage loans are designed to have equal fixed payments for the specified term. These offer predictability and are deemed to be less risky for borrowers. Fixed rate mortgage loans are available with all mortgage products and are typically offered in 15 year and 30 year terms. Fixed rate mortgage loans are also offer in 10 year, 20 year and 25 year terms although less common due to demand.
Adjustable Rate Mortgage Loans
Adjustable Rate Mortgage Loans known as ARM ‘s are also available with all mortgage products although are limited with FHA home mortgages, VA home mortgages and USDA home mortgages. ARM’s are great fit for home buyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible payment. ARM’s are also a product the offers a lower rate during times where fixed rates are demanding higher rates. An adjustable rate mortgage begins as fixed rate for a specific period of time then adjusts the rate on a predetermined time period and a predetermined amount based on financial index and a fixed margin.
Capital Home Mortgage is a full service home mortgage company specializing in new home purchases with low rates and offers a full line of mortgage products: FHA Home Loans, VA Home Loans, USDA Home Loans, Conventional Home Loans, Jumbo Home Loans, Reverse Mortgages as well as One Time Construction Loans and 184 Native American Loans.