There isn't a single or simple answer to this question. The right type of mortgage for you depends on many different factors:

  • Your current financial picture
  • How you expect your finances to change
  • How long you intend to keep your house
  • How comfortable you are with your mortgage payment changing

For example, a 15-year fixed rate mortgage can save you many thousands of dollars in interest payments over the life of the loan, but your monthly payments will be higher. An adjustable rate mortgage may get you started with a lower monthly payment than a fixed rate mortgage, but your payments could get higher when the interest rate changes.

The best way to find the "right" answer is to discuss your finances, your plans and financial prospects, and your preferences frankly with a mortgage professional.

 

Caliber Funding LLC Corporate | Privacy & Security | Licensing & Disclosures
Caliber Funding LLC, 6031 Connection Drive, Suite 200, Irving, TX 75039 (NMLS #80636). 1-866-373-2968. Copyright©2010. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations apply. Caliber Funding LLC is required to disclose the following license information: Alaska Mortgage Lender License No. MTGLN100015, Phone No. (480) 358-2000; Arizona Mortgage Banker License No. 0910478; Licensed by The Department of Corporations under the California Residential Mortgage Lending Act, Finance Lender Licensee; CO: Regulated by the Division of Real Estate. Colorado Supervised Lender License #990063-001, check the license status of your mortgage loan originator at
http://www.dora.state.co.us/real-estate/index.htm; Georgia Residential Mortgage Lender License No. 23632; Illinois Residential Mortgage Licensee No. MB.6760640, by the Illinois Division of Banking, 320 West Washington St., Springfield, IL 62786, (217) 782-3000; Kansas Licensed Mortgage Company, License Number SL.0026203-BR.002; Minnesota: MN-MO 40135664, This is not an offer to enter into an agreement. Any such offer may only be made in accordance with the requirements of Minn. Stat. Section 47.206 (3) and (4); Montana Mortgage Lender License No. 80636; Licensed by the New Hampshire Banking Department; Licensed mortgage banker n.s.--N.J. Department of Banking; Ohio MBMB.850102.000; Licensed by the Pennsylvania Department of Banking; Texas Mortgage Banker License No. 85037; Licensed by the Virginia State Corporation Commission, License Number MC-5339; Washington Consumer Loan Company License No. CL-80636. 

 

Caliber Funding LLC Corporate | Privacy & Security | Licensing & Disclosures
Caliber Funding LLC, 6031 Connection Drive, Suite 200, Irving, TX 75039 (NMLS #80636). 1-866-373-2968. Copyright©2010. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations apply. Caliber Funding LLC is required to disclose the following license information: Alaska Mortgage Lender License No. MTGLN100015, Phone No. (480) 358-2000; Arizona Mortgage Banker License No. 0910478; Licensed by The Department of Corporations under the California Residential Mortgage Lending Act, Finance Lender Licensee; CO: Regulated by the Division of Real Estate. Colorado Supervised Lender License #990063-001, check the license status of your mortgage loan originator at
http://www.dora.state.co.us/real-estate/index.htm; Georgia Residential Mortgage Lender License No. 23632; Illinois Residential Mortgage Licensee No. MB.6760640, by the Illinois Division of Banking, 320 West Washington St., Springfield, IL 62786, (217) 782-3000; Kansas Licensed Mortgage Company, License Number SL.0026203-BR.002; Minnesota: MN-MO 40135664, This is not an offer to enter into an agreement. Any such offer may only be made in accordance with the requirements of Minn. Stat. Section 47.206 (3) and (4); Montana Mortgage Lender License No. 80636; Licensed by the New Hampshire Banking Department; Licensed mortgage banker n.s.--N.J. Department of Banking; Ohio MBMB.850102.000; Licensed by the Pennsylvania Department of Banking; Texas Mortgage Banker License No. 85037; Licensed by the Virginia State Corporation Commission, License Number MC-5339; Washington Consumer Loan Company License No. CL-80636. 

 

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National Headquarters

Caliber Funding LLC
6031 Connection Drive, Suite 200
Irving, TX 75039
(NMLS #80636)

Copyright © 2010 Caliber Funding LLC, All Rights Reserved

National Headquarters

Caliber Funding LLC
6031 Connection Drive, Suite 200
Irving, TX 75039
(NMLS #80636)

Copyright © 2010 Caliber Funding LLC, All Rights Reserved