United Home Loans FAQs

Q: What Mortgage is best for me?

Most mortgage loans have either a fixed interest rate or an adjustable interest rate.  With a fixed-rate mortgage, the interest rate never changes and your payments remain stable throughout the life of your loan.  With an adjustable-rate mortgage (ARM), the interest rate changes at regular intervals - usually once every year - based on a formula that uses a market index.  For most ARM options, rate adjustments begin after an initial period - usually between three months and ten years - during which the rate is fixed.

A fixed rate is usually best if you plan to stay in your home for the long term and are buying at a time when rates are relatively low.  An ARM is usually best if you plan to move before the rate adjustments begin, or if you are buying when rates are relatively high.   We also offer a large amount of other programs that increase flexibility for our clients.  For more details please feel free to contact one of our mortgage bankers.

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