Conventional Mortgages

You've begun a new chapter in your life and are on a journey to homeownership, Congratulations!

Village Mortgage offers a wide variety of mortgage products to fit all of your financial needs.

Whether you are a first-time home buyer or a seasoned home buyer, we are committed to giving you all of the resources you will need to help you feel confident and safe while you navigate the loan process.

Fixed-Rate Mortgage

A fixed-rate mortgage makes it easy to budget and plan because it affords you a consistent monthly principal and interest payment for the life of your loan.

  • Consistent monthly principal and interest payments
  • Your interest rate won't change
  • May be ideal if you plan to stay in your home for a long period of time
  • Available for a home purchase or refinance

Fixed-Rate Mortgage Types and Terms 

                                    
30 Year Fixed
Conventional fixed rate with a 360 month amortization.
No pre-payment penalties.
Term: 30 years
Maximum Amount:
$424,100
25 Year Fixed
Conventional fixed rate with a 300 month amortization. No pre-payment penalties.
Term: 25 years
Maximum Amount:
$424,100
20 Year Fixed
Conventional fixed rate with a 240 month amortization. No pre-payment penalties.
Term: 20 years
Maximum Amount:
$424,100
15 Year Fixed
Conventional fixed rate with a 180 month amortization. No pre-payment penalties.
Term: 15 years
Maximum Amount:
$424,100
10 Year Fixed
Conventional fixed rate with a 120 month amortization. No pre-payment penalties.
Term: 10 years
Maximum Amount:
$424,100

 

   

Adjustable-Rate Mortgage (ARM)

An adjustable-rate mortgage ("ARM") is a loan with an interest rate that changes. ARMs may start with lower monthly payments than fixed-rate mortgages, but keep in mind the following: your monthly payments could fluctuate. They could go up—sometimes by a significant amount—even if interest rates don't go up.

today’s ARM is fixed for a period of time, adjusts based on market conditions and comes with reasonable maximum caps of how much you could pay.
Read more at http://www.quickenloans.com/blog/advantages-adjustable-rate-mortgage#FXw11oBc8IMrGWRX.99
today’s ARM is fixed for a period of time, adjusts based on market conditions and comes with reasonable maximum caps of how much you could pay.
Read more at http://www.quickenloans.com/blog/advantages-adjustable-rate-mortgage#FXw11oBc8IMrGWRX.99
today’s ARM is fixed for a period of time, adjusts based on market conditions and comes with reasonable maximum caps of how much you could pay.
Read more at http://www.quickenloans.com/blog/advantages-adjustable-rate-mortgage#FXw11oBc8IMrGWRX.99
  • Features lower rates and payments early on in the loan term.
  • Allows borrowers to take advantage of falling rates without refinancing.
  • Helps borrowers save and invest more money.
  • Offers a cheap way for borrowers who don't plan on living in one place for very long to purchase a home.

Adjustable-Rate Mortgage (ARM) Types and Terms 

                             
 
1 Year Adjustable Loan
Conventional adjustable rate mortgages with a 360 month amortization. Payments consist of both principal and interest. No pre-payment penalties.
 
Term: 30 years
Maximum Amount:
424,100
 
3/1 Year Adjustable Loan
Conventional adjustable loan, but has a fixed rate for the first 3 years. 360 month amortization. Payments consist of principal and interest. No pre-payment penalties.
Term: 30 years
Maximum Amount:
$424,100
 
5/1 Year Adjustable Loan
Conventional adjustable loan, but has a fixed rate for the first 5 years. 360 month amortization. Payments consist of principal and interest. No pre-payment penalties.
Term: 30 years
Maximum Amount:
$424,100
 
7/1 Year Adjustable Loan
Conventional adjustable loan, but has a fixed rate for the first 7 years. 360 month amortization. Payments consist of principal and interest. No pre-payment penalties.
Term: 30 years
Maximum Amount:
$424,100
 
10/1 Year Adjustable Loan
Conventional adjustable loan, but has a fixed rate for the first 10 years. 360 month amortization. Payments consist of principal and interest. No pre-payment penalties.
Term: 30 years
Maximum Amount:
$424,100
     
   

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