Grow Financial Federal Credit Union

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January 7, 2022

Choosing a Mortgage That’s Right for You

Looking to put down roots for a growing family or build equity over time instead of renting? Look no further than a home loan with Grow! We have plenty of mortgage options to choose from, with competitive rates (which are updated daily and can be found on our mortgages website) and reliable, local service from our real estate loan team.

Choosing a mortgage

There are lots of home loan varieties to choose from, but your main decision will be selecting either a fixed-rate or an adjustable-rate mortgage. What’s the difference?

Fixed rate: The fixed-rate mortgage is the reigning champion of home loans for a very good reason. Your rate is set permanently, and your monthly payments will not change. This is your best choice if you:

  • Want the security of knowing your interest rate will not change, nor will your monthly payment (except for adjustments due to property tax and insurance changes).
  • Plan to stay in this home for several years or longer.
  • Don’t expect your income to increase significantly in the coming years.

Adjustable rate (ARM): Here, your rate is set for a certain period of time, then it adjusts, according to your loan structure and the state of the market. ARMs can be the best choice if you:

  • Want to maximize your buying power.
  • Want to keep your payments lower during the first few years of your loan.
  • Plan to move into a different home within the next 10 years.
  • Plan to pay off your mortgage within the next 10 years.
  • Expect your income to increase significantly in the coming years.

We offer a number of loans that may fit your particular needs — fixed-rate options, ARMs, balloons, professional home loans, FHA, VA and others. Talk with us about your unique situation, and we’ll help find a loan that is right for you.

Choosing a lender

Just as important as which loan option you choose is which lender you choose. We know you have tons of options in the marketplace, so we seek to stand out. How? We take pride in providing the best local, friendly service, brought to you by our Real Estate Loan Officers. They’re the best in the business when it comes to helping you find the right home loan to meet your needs. Because we know it’s more than just a mortgage — it’s helping you find your dream home.

To find out more about a home loan through Grow, talk to us today!

Contact Us to Learn More

Subject to credit approval.
Grow Financial mortgage loans are valid for the purchase of refinance of owner-occupied residential properties in the states of Florida, South Carolina, North Carolina, Georgia and Tennessee including single-family detached, condominiums and townhomes. Not valid for the purchase of investment properties. Grow Financial mortgage loan rates are updated daily and available at growfinancial.org.


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