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  • More
    • Home
    • Apply here
    • Client login
    • Testimonials
    • About
    • Buyers
    • BNI Members
    • Credit Report
    • VETERANS
      • Loan Benefits
      • COE & DD214
      • VA Docs Request
    • FHA
      • Purchase Loan
      • Streamline Refinance
    • Learning Center
      • Docs Request
      • Why use Us
      • Types of Loans
      • Purchase Basics
      • Glossary
    • Photos
    • Site Disclosure
      • Privacy Policy
      • Security Statement
    • Team

EN

  • Home
  • Apply here
  • Client login
  • Testimonials
  • About
  • Buyers
  • BNI Members
  • Credit Report
  • VETERANS
    • Loan Benefits
    • COE & DD214
    • VA Docs Request
  • FHA
    • Purchase Loan
    • Streamline Refinance
  • Learning Center
    • Docs Request
    • Why use Us
    • Types of Loans
    • Purchase Basics
    • Glossary
  • Photos
  • Site Disclosure
    • Privacy Policy
    • Security Statement
  • Team

Programs

Thirty-Year Fixed Rate Mortgage

The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable-rate loans.  When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run because you can lock in the rate for the life of your loan.

Fifteen-Year Fixed Rate Mortgage

This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you'll own your home twice as fast. The disadvantage is that,  with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments to pay off their loan in 15 years. This approach is often safer than committing to a  higher monthly payment since the difference in interest rates isn't that great.

Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM)

This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you'll own your home twice as fast. The disadvantage is that,  with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments to pay off their loan in 15 years. This approach is often safer than committing to a  higher monthly payment since the difference in interest rates isn't that great.

2/1 Buy Down Mortgage

The 2/1 Buy-Down Mortgage allows the borrower to qualify at below-market rates to borrow more. The initial starting interest rate increases by 1% at the end of the first year and adjusts again by another 1% at the end of the second year. It then remains at a fixed interest rate for the remainder of the loan term. Borrowers often refinance at the end of the second year to obtain the best long-term rates. However, keeping the loan in place even for three full years or more will keep their average interest rate in line with the original market conditions.

Adjustable Rate Mortgages (ARM)

 An adjustable-rate mortgage, or ARM, is a mortgage with an interest rate that can be increased or decreased from time to time, depending on various factors. An ARM helps someone take out a mortgage during a period of low-interest rates, especially if the ARM has a relatively more extended fixed-rate period.

AZ Financial 3145 E. Chandler Blvd. Ste. 110-118, Phoenix, Arizona 85048

(480) 787-5777 Tel United States of America  NMLS ID: 1484811 - 233228 / AZ MB: 0935963 LO: 0927927   Equal Housing Lender  Copyright © 2025 AZ Financial, LLC - All Rights Reserved. 

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