15/15 ARM vs 30-year Fixed… Which One Belongs on Your Team?

With all the different loan options available, mortgage shopping can be overwhelming, especially for first-time home buyers.
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Homes today are selling faster than a two-minute drill. Many consumers barely return from an open house before learning their dream home has already sold! That’s why you need a game plan.

Pre-approval

Start by having a loan pre-approval in place before you search. With a pre-approval letter in hand, you stand a much better chance of beating the competition because it assures sellers you already qualify for a loan and can move quickly to settlement.  Baltimore County Employees Federal Credit Union can help you get pre-approved for a mortgage. Click here to request an appointment.  

Available loan options

With all the different loan options available, mortgage shopping can be overwhelming, especially  for first-time home buyers.  The team at BCEFCU is ready to help and features two of the best players in the game. Check out our stats:

  1. The 15/15 Adjustable-Rate Mortgage is a superstar on and off the field. It’s a 30-year home loan that bursts out of the tunnel with a great low introductory rate for the first 15 years, adjusting only once in year 16. Payments are amortized over 30 years keeping them affordable.
  2. The 30-year fixed mortgage is the reliable veteran performer year after year.  The interest rate is fixed for the full life of the loan. In addition, the 30-year term keeps your payments as low as possible. Consistency equals money in the bank!

FHA and VA loans

We also offer FHA and VA loans, conforming and non-conforming primary residence residential loans, and adjustable-rate loans with 3, 5, 7, or 10-year terms.

Gain a winning edge!

Our friendly mortgage counselors are here to help you choose the loan option that will get you in the end zone! Visit www.bcefcu.com for details or contact us at 410-828-4730, 800-234-4730 or mortgages@bcefcu.com!

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