We’re here to help you find the right mortgage whether you are a first-time home buyer, refinancing or buying a second home. We’re here for where you are in your life and to help you take that next step when you’re ready. We offer a variety of lending options designed to fit your home buying needs backed by our in-depth knowledge of the local real estate markets and in-house, local decision making. Meet our residential lenders.
Fixed Rate Mortgages
Fixed rate mortgages have consistent monthly payments at a fixed interest rate. These types of mortgages appeal to buyers who plan to stay in their homes for a long time and who like the stability, of a consistent rate and payment amount. If you plan to stay in your home and want the stability then a fixed rate mortgage loan may be the best choice for you.
Adjustable Rate Mortgages
Adjustable rate mortgages enable you to borrow at predetermined points of time at lower initial rates of interest that will change throughout the life of the loan. These types of mortgages are usually preferred by buyers who plan to stay in their homes for a short period of time or anticipate a rise in income or liquidity.
Construction/permanent mortgages enable you to borrow in order to finance the construction of a new home or the renovation of an existing home. Then, upon completion of your new home or renovations, the loan is automatically converted to either a fixed or adjustable rate permanent mortgage, whichever you prefer. One loan approval, one application and one simple closing.
Getting prequalified for a mortgage can be a great first step in securing your mortgage. Not only will this tell you how much home you can afford, but it also offers realtors and home sellers the peace of mind that comes from knowing you are a financially qualified buyer. Prequalification with Eagle Bank usually takes less than an hour.
We invite you to schedule an appointment to review your options. Contact Us today.