Choosing a Mortgage

ProGrowth Bank offers a wide variety of adjustable and fixed rate loans to choose from for your home purchase, refinance or construction loan. We can get you pre-approved in one day, and ready to fund on our portfolio loans in just 10 working days. 

ProGrowth offers very competitive loan and mortgage rates.  As lending rates change daily, please call one of our office locations to get today's best rate.    Then Prequalify for your Mortgage Online!

Ask yourself these questions:

Then consider the:

Is this the "end all - be all" house of my life?

15 or 30 fully amortized fixed rate mortgage

Is this a starter home and I will probably move in a few years?

Adjustable rate mortgage

Which loan is best for me if I want to pay it off as quickly as possible?

15 year fixed rate mortgage

Which is the most affordable home loan that will allow me to afford the most loan amount?

30/3/1 adjustable rate mortgage

Which loans blend the best rate with the best fixed rate terms?

30/10/1, 30/5/1 adjustable rate mortgage

Tips to remember: For some homebuyers, an important decision is whether a fixed-rate or adjustable-rate mortgage (ARM) is preferable. Fixed-rate mortgages may be preferable to ARMs because your monthly principal and interest payment is fixed for the life of the loan (though your tax and insurance payments may change over time). However, ARMs usually offer a lower initial interest rate, which means lower initial monthly principal and interest payments, and the possibility of qualifying for a larger mortgage amount. If you're confident that your income will increase steadily over years, or if you believe you will only keep the home or loan for a few years, you may have no qualms about an ARM. Again, you will have to consider your own circumstances.