Products
 Traditional
Traditional Home Financing Products
B.F.
Saul Mortgage offers a full suite of traditional home financing products
to meet your particular needs. |
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| Fixed Rate Mortgages |
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Fixed-rate mortgages offer the same
interest rate and monthly payment throughout the entire life of the
loan. Typically, the longer the term of the loan, the lower the monthly
payments will be. With a shorter term, you will have higher monthly
payments, however, you will realize a savings in the amount of interest
you will pay over the life of the loan. Fixed-rate mortgages are recommended
to borrowers who: |
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Look for predictable payments, because
the payment is the same each month over the entire life of the loan.
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Are willing to pay a higher interest
rate in return for protection against the possibility of rising interest
rates. |
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Are interested in building equity
in their property through monthly principal and interest payments.
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| Fixed-to-Adjustable Rate Mortgages |
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Fixed-to-adjustable rate
mortgages offer a lower initial interest rate than a fixed-rate mortgage
while still providing the security of a fixed rate and payment guarantee
for a set number of years. After the initial fixed period, the loan
will have an adjustable rate. Fixed-to-adjustable rate mortgages are
recommended to borrowers who: |
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Look for a lower introductory rate
and payment while still having the predictability of an initial fixed
monthly payment. |
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Plan to stay in their home for
a limited time. |
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Want a lower fixed payment to match
the number of years they will be in the property, without paying a
higher rate typically associated with a 15- or 30-year fixed-rate
mortgage. |
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