What options do I have for mortgage loans?

First Tech Federal Credit Union offers a variety of mortgage loan options designed to meet the diverse needs of its members. These options typically include fixed-rate mortgages, adjustable-rate mortgages, and even specialized loans, such as jumbo loans or those geared towards first-time homebuyers. A fixed-rate mortgage provides stability, as the interest rate remains the same throughout the life of the loan. This can be an appealing choice for those who prefer consistent monthly payments and a clear idea of their long-term financial commitments. Adjustable-rate mortgages, on the other hand, start with a lower initial interest rate that can fluctuate after a predetermined period. This option might be suitable for individuals who plan to move or refinance before the rate adjusts. First Tech FCU may also offer specialized products such as loans for purchasing or refinancing manufactured homes. For first-time homebuyers, the credit union often provides tailored programs that include lower down payment requirements and potential assistance with closing costs. It is crucial to carefully consider your personal financial situation and future plans when selecting a mortgage product. First Tech provides resources on their website that can help you compare loan options, understand the application process, and analyze different scenarios. For detailed information about specific loan products and current interest rates, visiting the First Tech website would be beneficial.