Lower Mortgage Rates, for a Reason
You can get a lower interest rate on your mortgage at Avadian for many reasons. We’re owned by our members, not a group of investors, so we return the earnings of our credit union to our members in the form of lower rates and fewer fees.
With Avadian, You Have Choices
With a home loan, the most important thing is making sure your loan type fits your life. We offer a variety of terms and interest rate options, so ask yourself the big questions like: Is this your forever home, or are you planning to move within five years? Your answers will help determine the best loan type for you.
If we give new homebuyers any advice, it’s this: Start the process by getting qualified for a loan before you begin looking at houses. (When buying a home, not much is worse than falling in love with a house only to find out later you can’t afford it.)
Fixed-rate mortgages are just that — your interest rate is fixed for the life of the loan. Fixed-rate loans come in a variety of terms: 15-year and 30-year terms are the most common, but other options are available.
Adjustable-rate mortgages start off with a great low rate for the first few years, and then adjust based on a corresponding financial index at specified times. An adjustable-rate mortgage can be a good option if you don’t plan to stay in your home for more than a few years.
If interest rates have gone down since you bought your house, or you have an adjustable-rate mortgage that is about to start going up, refinancing is a great way to save money on a loan with a high monthly payment or to lock in a fixed rate to make your budgeting more predictable.
Some people, especially first-time homebuyers, find it difficult to obtain a mortgage. They may not have enough saved up to make a substantial down payment, which makes some financial institutions hesitant to loan them money. If this sounds familiar, we have a loan program just for you.
FHA, VA, and USDA Mortgages
When you finance a house, you have a lot of options available beyond a traditional mortgage. FHA mortgages. VA mortgages. USDA mortgages. Each of these comes with great benefits. As you begin your search, we would love to talk with you about the entire range of options available.