Compare Mortgages

You've found your dream home, now which loan should you choose? Determining which mortgage is right for you can be a challenge. Let First Flight mortgage experts help you decide which mortgage best meets your needs!

Fixed Rate Mortgages

Fixed rate mortgages are closed ended loans and are available for terms up to 30 years. You can even choose a shorter term, including 10 and 15 year terms. Interest rates and terms are locked for the term of the loan and you can expect nearly the same payment each month (the only change may be the result of changes in property taxes, insurance, or other expenses, also known as "PITI"). When you choose a fixed rate mortgage, you can expect:

• In-house loan underwriting, processing/closing, and servicing
• No PMI or Escrow options
• Purchase, Refinance, and Cash Out loans available
• Minimal Reserve Requirements

Adjustable Rate Mortgages

Adjustable rate mortgage (ARM) products feature an interest rate that is adjusted periodically based on a pre-selected index. First Flight's product is based on the 1 year LIBOR with the initial interest rate period ranging from 1 yr, 3 yr, 5 yr, up to 10 years while the loan is being amortized over a 30-year period. You can expect your monthly payment to adjust, either up or down, depending upon the LIBOR index. These loans offer:

• Conforming and Jumbo loan amounts
• In-house loan underwriting, processing/closing, and servicing
• No PMI or Escrow options
• Minimal Reserve Requirements

FHA & VA

First Flight offers FHA and VA loans for purchase or refinance. For current homeowners there is an option for a cash-out refinance or a no cash-out streamline refinance for our FHA loans and veterans with certificates of eligibility may qualify for VA loans for purchases or refinances. First Flight FHA and VA loans offer:

• Minimal down payment options on purchases
• First time home-buyer programs
• Cash-out refinance to use equity in current home
• Streamline refinance to reduce current interest rate.
• Seller contributions allowed up to 6% on purchases

Our staff is ready to help you get started.

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