David L. Strassner

VP/Area Production Manager

What type of loan program is best for me?

The many different types of home loans available can seem overwhelming. Should you choose a fixed rate, adjustable rate or government loan mortgage? The truth is there is no right answer. Choosing a loan type is an important decision that is best made after you have researched your options. Remember, taking the time to explore your options now can mean saving thousands of dollars in the long run.

Ask yourself the following questions to determine what loan type is right for you:

  • Do you expect your financial situation to change over the next few years?
  • Do you plan to live in your current home for a long time?
  • Do you feel comfortable with the idea of a changing mortgage amount?
  • Do you want to be free of mortgage debt by the time your children go to college or you retire?

A professional lender is the best resource available to help you decide which loan best fits your needs. Follow the general guidelines outlined below to get started selecting the best mortgage for your home.

How many years do you plan to stay in your home? Plan(s) to Consider
1-3 3/1 ARM or 1-year ARM
3-5 5/1 ARM
5-7 7/1 ARM
7-10 10/1 ARM or 30-year fixed
10+ 30-year fixed or 15-year fixed

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This is not a commitment to lend. Terms and conditions of programs, products and services are subject to change. All loans are subject to credit approval and property appraisal. Certain restrictions may apply on all programs.

NOT ACCEPTING NEW YORK APPLICATIONS.

First Home Mortgage Corporation of America, First Home Mortgage Services, Maryland First Home Mortgage Company, and First Home Mortgage Company of Maryland are d/b/a's of First Home Mortgage Corporation. First Home Mortgage Corporation is licensed in Connecticut, Delaware, District of Columbia, Florida, Georgia Residential Mortgage Licensee, Indiana, Kentucky, Maine, Maryland, Massachusetts Mortgage Lender and Broker (Lic. #MC71603), Michigan, Licensed by the New Hampshire Banking Department, Licensed by the New Jersey Department of Banking and Insurance, North Carolina, Pennsylvania, Rhode Island Licensed Lender and Broker, South Carolina, Tennessee, Virginia, West Virginia. Equal Housing Lender.
First Home Mortgage Corporation NMLS ID #71603www.nmlsconsumeraccess.org

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