What types of mortgages does National City offer?

National City Mortgage offers a variety of mortgage options designed to cater to different financial needs and homeownership goals. They typically provide conventional fixed-rate mortgages, which are popular for their stability over time, allowing borrowers to maintain the same monthly payment throughout the life of the loan. Additionally, they often offer adjustable-rate mortgages, which can have lower initial interest rates; however, these rates may change at specific intervals, depending on market conditions. For those interested in purchasing a home with minimal down payment, National City may provide government-backed loans, such as Federal Housing Administration (FHA) loans, which are advantageous for first-time homebuyers or borrowers with lower credit scores. There are also loans through the United States Department of Agriculture (USDA) for purchasing homes in rural areas, as well as Veterans Affairs (VA) loans, which are specifically designed for eligible veterans and active-duty military personnel. In addition to these standard mortgage types, National City may also offer options tailored for specific needs, such as jumbo loans for high-value properties, as well as refinancing options for those looking to lower their interest rates or access equity in their homes. As mortgage offerings can vary over time, it is advisable for individuals to consult the current web page for detailed information on the most up-to-date mortgage products available, including eligibility requirements and rates.