The traditional 15-30 year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan. The shorter the term, typically the lower the fixed interest rate.

A refinance mortgage provides more than just a way to save money, but a path towards financial wellness in many other aspects of homeownership. Competitive APY* rates, member perks, and online banking features help you do more with less, every single day.

Mortgage refinancing is the perfect option for homeowners who want more out of their current plan. With lower interest rates, flexible term options, and member service that truly cares, Chartway’s mortgage refinancing was built with you in mind.

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An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan which is provided by a FHA-approved lender. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford.

The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry). The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment.