Fixed vs Adjustable

One of the first choices a homebuyer will need to make is whether you want a fixed-rate or an adjustable-rate mortgage loan. The bulk of loans will fit into one of these two categories, however, there is a third option that will allow you to "hybrid" the two.

An adjustable-rate mortgage, (ARM): The interest rate of the mortgage adjusts periodically based on market conditions. For example, your payment will go up if rates go up and go down if rates go down. Fixed-rate Mortgage: Unlike an adjustable-rate mortgage the interest rate is set at the time you take out the loan and will not change. Fixed-rate home loans can be 10 years, 15 years, 20 years or 30 years fixed. 30-year fixed is the most common because it allows your mortgage payment to be the lowest. Hybrid ARM: Features an initial fixed interest rate for a certain amount of time and then becomes an adjustable-rate for the remainder of the term. Standard terms are 3, 5, 7, or 10 yrs.

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Licensing

Heartland Mortgage, Inc.
Co. NMLS# 3205
Bobbie Jo Haggard
NMLS# 92472
Licensed to do business in
Washington & Oregon

NMLS Consumer Access

Contact Bobbie Jo

Heartland Mortgage, Inc. - Bobbie Jo Haggard
30 S Palouse St
Walla Walla, WA 99362

Direct: (509) 301-1661
Office: (509) 529-3280- Ask for Bobbie Jo
Fax: (509) 522-1074
efax: (509) 267-1676

Hours:

MON-FRI 9AM - 5PM
Additional hours by appointment
Closed on most federal holidays.

Information contained herein is deemed accurate but not guaranteed. Programs shown do not demonstrate all options or pricing structures. Rates, terms, programs, and underwriting policies subject to change without notice. Not an offer to extend credit or commitment to lend. Loans subject to underwriting approval. Loan approval is not guaranteed and is subject to lender review of information. All loan approvals are conditional, and all conditions must be met borrower. Heartland Mortgage Inc. is not acting on behalf of or at the direction of HUD/FHA, VA or USDA. Loans are available in Washington and Oregon only.

Contact Heartland Mortgage, Inc. directly to learn more about its mortgage products and eligibility for such products.

Heartland Mortgage Inc. is an Equal Opportunity Mortgage Broker.