Home Purchase

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Fixed-Rate Mortgage

With a fixed rate mortgage, your principal and interest payments stay the same for the life of the loan—a good choice if you’re planning to stay in your home for a long time. Choose from varying year terms, such as 30 year or 15 year.


Adjustable-Rate Mortgage

Adjustable rate mortgages (ARM), also known as variable rate mortgages, have varying terms to maturity where your interest rate and monthly principal and interest payments remain fixed for the initial pre-determined period of time, once the fixed period expires the interest rate adjusts annually based on a rate index.


Jumbo Loans

For loans over $510,400, we offer jumbo mortgages, also called non-conforming loans. Jumbo financing options include fixed and adjustable rate mortgages, with a range of terms to accommodate your immediate and long-term financial plans.

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Other Articles of Interest

Getting Rid of Private Mortgage Insurance

When purchasing a standard mortgage from a private lender, you may be required to purchase private mortgage insurance (PMI). However, PMI can be costly, usually charging you ...

House, Townhome, or Condo?

The real estate market offers many different housing options. Depending on your life stage, financial resources, and where you are on your financial journey, one ...

Building Equity in Your Home

If you own a home, the mortgage payments you make each month could help you build a substantial asset - home equity. The home equity you build represents how much ...

Down Payment Assistance Programs

For those at the low-to-moderate-income level, the most substantial barrier to homeownership are the closing costs and a down payment associated with ...

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Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.