What do you need to consider when shopping for a loan?

Length of the Loan: An adjustable loan or one with a balloon payment may be preferable if you intend to sell the house in just a few years. But a fixed loan may be preferable it you intend to own the home for an extended time period.

Points and Rates: One point equals one percent of the loan. The relationship between points and rates is basically this: the more points you pay up-front, the lower the interest rate of your loan.

Types of Loan Programs: Your loan officer can present you with many loan options, and together you can decide on the one that best fits your present and future financial circumstances.