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30 Year Fixed Rate Mortgage

With a 30 year fixed rate mortgage, your interest rate does not change, and you pay the loan off in 30 years. Traditionally, this has been the most popular mortgage when interest rates are low because you can lock in and secure a low interest rate.
    

15 Year Fixed Rate Mortgage

15-year mortgage will save you a lot in interest over the life of the loan, because you pay interest only half as long. The only disadvantage with a 15-year Fixed Loan is that although the interest rate is lower, monthly payments are higher than a 30-year mortgage.


7/1 Adjustable Rate Mortgage 

The monthly interest rate for this 7/1 ARM is fixed for an initial term of 7 years. Each year after that term, the rate will be adjusted and calculated on the basis of the average yield on 1 Year LIBOR.
 
 
 
 
 
 

Why Union Mortgage?
You need a mortgage professional that will listen to your needs and concerns, offer options that fit your personal and financial goals. At UMG customer service is our priority and your satisfaction is our goal. Our experienced and knowledgeable Mortgage Professionals will help you choose the right loan program and terms that meets your needs.