Explore Your Finance Options with
Century 21 Mortgage®

Securing mortgage financing is an important step in the real estate purchase process. There are lots of options to explore to find the fit that's right for you.

Applying for a mortgage has never been easier. CENTURY 21 Mortgage offers unsurpassed rates and service - guaranteed.

Mortgage Financing Options

Your options for financing the home you find depend on your personal financial situation and your unique needs. Check with a CENTURY 21® agent for guidance about contacting mortgage lenders and getting a Mortgage Pre-approval. This will help you gauge how much you can afford to spend on a home and the financing options available to you. Here's an overview of typical financing options available:

• Adjustable Rate Mortgage (ARM): This is a mortgage in which the interest rate is tied to a specific economic index and may adjust at specific times. Overall, your monthly payment may go up or down at intervals specified in the disclosure associated with this type of mortgage, depending on the current interest rate.
• Fixed Rate Mortgage (FRM): This is a mortgage with an interest rate that does not change during the entire term of the loan. This means the monthly payments for principal and interest are also fixed for the life of the loan.
• Conventional Mortgage: This is mortgage that is not part of a government-housing program, typically has a limit of $322,700, and is not insured by the federal government.
• Jumbo Mortgage: This is a mortgage that typically exceeds $322,700 and is not insured by the federal government. These loans usually have higher interest rates.
• Government Backed Loans: There are two types of government-backed loans -- FHA and VA. FHA loans are insured by HUD (the Department of Housing and Urban Development of the United States) and VA loans are insured by the Veterans Administration.

How much can I afford? Find out how much you can afford. What will your monthly payments be? Crunch the numbers and find out.

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