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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We just wanted to thank you for all of your help getting our loan. You're both exceptionally skilled at what you do and we were able to get into the house much quicker than we had hoped. Thanks...
~Jeff, Jenn, and Laura

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