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Types of Home Loans
Nationwide Advantage Mortgage® offers a variety of home loans to suit every down payment size and most income levels. We offer fixed rate mortgages, adjustable rate mortgages (ARMs), balloons and jumbo loans. Look at the table below to help you decide what type of home loan is right for you.
| You want... | You plan to... | You can handle... | You may want to consider... |
|---|---|---|---|
| A stable interest rate and a principal and interest payment that won’t change | Stay in your home for many years | A rate that won’t change over the term of your loan | Fixed Mortgage |
| A lower introductory interest rate | Stay in your home for 3 to 10 years | The risk of increased payments | Adjustable Rate Mortgage |
| A lower short-term, fixed interest rate | Sell or refinance prior to term expiration | A large, lump-sum final payment at term expiration | Balloon Mortgage |
| A loan amount that is above the $417,000 conventional loan limit | Buy or refinance a primary residence that is above $417,000. | A higher interest rate | Jumbo Mortgage |
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