These are the most common types of mortgage terms borrowers pursue. Terms are typically available for 30, 20, 15, and 10 years. But we can customize your loan in any year increment in between 10-30. For example, 27 years, that might be handy if that’s when you plan to retire. I always recommend a first time homebuyer obtaining a 30 year fixed rate mortgage. It’s better to be comfortable with your mortgage payment and having the freedom to pay more on a month to month basis. While you can get a lower rate by taking a shorter term, like 20, 15, or 10 years, it’s also important to feel comfortable with your monthly payment. It’s also reassuring to know that your mortgage interest rate will never change. On the other hand, an ARM (adjustable rate mortgage), offers a fixed rate only for the introductory period, and then can adjust typically every year or every 6 months. This can result in payment shock down the road and I don’t recommend it for first time homebuyers. More experienced borrowers might prefer to take the risk in exchange for a lower rate during the introductory period. They might not be planning to stay in the house that long or are hoping they can refinance in the future to a fixed rate mortgage. It’s important to know your options and we’ll put together a detailed report for you to help you make an educated decision of what loan product and term will be best for you. In addition, we are very competitive and rarely lose deals due to pricing. We also close on average in just 3 weeks, providing a stress-free experience for our clients, as we help more Americans to achieve the dream of home ownership.