A fixed-rate mortgage is one of the most popular and dependable home loan options—and for good reason. With this type of loan, your monthly principal and interest payments stay exactly the same throughout the life of the loan, giving you long-term peace of mind and predictability. Whether you’re looking at a 10-year or 30-year term, you can count on a steady rate and, in most cases, the freedom to pay it off early without any penalties.

Now, if your lender sets up an impound account (also called an escrow account), your monthly payment might include more than just the loan itself. It may also cover property taxes, homeowners insurance, and any required mortgage insurance if your down payment is less than 20%. These amounts are collected monthly and used to pay those bills on your behalf when they’re due. If your taxes or insurance rates change, your overall payment may adjust—but your loan’s interest rate and principal payment will remain fixed. It’s a smart, straightforward option that brings a lot of financial clarity, especially for homeowners who value stability.

An ARM is a flexible loan option that starts with a lower interest rate than a fixed-rate mortgage—great if you’re planning to move or refinance in a few years. That rate stays steady for an initial period, then adjusts based on the market.

When your rate adjusts, it’s based on a set margin plus a financial index—but don’t worry, there are limits (called caps) to how much it can change.

If you're looking to maximize buying power now and are comfortable with potential rate changes later, an ARM might be the perfect fit. I’ll walk you through the details so you can feel confident either way.

An Interest-Only Mortgage lets you pay just the interest for a set period—usually the first few years—before switching to full monthly payments that include principal. This option can be helpful if you want lower initial payments or have income that varies throughout the year.

While you won’t build equity during the interest-only period, it could make affording your dream home possible now, especially if you plan to refinance or sell before the higher payments kick in.

It’s a flexible option for the right situation—and I’ll help you determine if it’s a smart fit for your financial goals.

A Graduated Payment Mortgage is designed to start with lower monthly payments that gradually increase over time—usually for 5 to 10 years—before leveling out for the rest of the loan.

This option can be helpful if you expect your income to grow in the coming years. It makes it easier to qualify upfront with smaller payments, but keep in mind that you might end up owing more in the beginning if your payments don’t cover all the interest (this is called negative amortization).

It’s a creative solution for the right situation, and I’m here to help you figure out if it’s a smart move for your long-term goals.