At Northwest Mortgage Consultants we work with you to find a loan program to fit your needs. Whether you are purchasing, refinancing, or taking out a line of credit on your property there are several things to consider. If you plan on staying in your home over 10 years then a 15 year or 30 year fixed rate program offers monthly payments are fixed over the life of the loan. Your mortgage interest rate will never go up. If mortgage rates go down you can choose to refinance to a lower rate at any time.

If you need a lower initial monthly payment or a lower initial interest rate then an Adjustable Rate Mortgage (ARM) may be the best program. An ARM interest rate will stay fixed for the initial period of the loan then adjusts. An ARM offers a lower interest rate at the beginning of the loan than a fixed rate mortgage. For example, a 5/1 ARM has an interest rate that is fixed for the first 5 years of the loan then adjusts to a new rate after. After the initial period you may choose to refinance or keep the loan depending on the interest rate at the time.

Northwest Mortgage Consultants also offers Home Equity Lines of Credit (HELOC), Construction Loans, Refinancing Loans, First Time Buyer Loans, FHA, VA, and many other loan programs to fit your individual needs.