Which is better: 15 or 30 year loan term?

Timing is everything — with a shorter term mortgage you will be paying less interest but a higher monthly payment. Take the time to assess which mortgage term is better for you.

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How much will my payments be?

Calculate your monthly mortgage payment for a given purchase price, down payment, interest rate, and loan term.

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Fixed or adjustable?

Decide to lock in your rate or choose a rate that adjusts according to market and economic factors. Compare the monthly mortgage payment for fixed- and adjustable-rate mortgage (ARM) loans, given the terms of the loans.

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How much should I put down?

Determine the effect of your down payment on a home with respect to the loan terms, and whether you’ll pay private mortgage insurance (PMI).

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