Residential Mortgages
You are careful to select the perfect home; Esquire Bank can help you secure the perfect home loan as well. Our experienced team provides personalized service from the pre-qualification process through closing. There are a number of factors to consider; we take the time to fully explain every option, and work to tailor a mortgage to you.
- Summary
- Competitive rates
- Fixed and adjustable rate mortgages (ARMs) available
- Quick approvals and closings available
- Refinancing available
- Pre-approval for enhanced buying power
- Personal service at every step
- Local decision-making
- Can set up automatic payments from your bank account
- Free online account access
- Fixed Rate vs. ARM
The two most common types of mortgage loans generally appeal to different kinds of buyers. A fixed rate mortgage offers stability and reliability, while an adjustable rate mortgage (ARM) can provide more buying power up front.
Why Choose a Fixed Rate?
- Your interest rate will never increase
- No change in monthly principal and interest payments
- Reliability and solid budgeting
- Option to pay "points" up front to reduce interest rate, and resulting monthly payment
Why Choose an ARM?
- Initial interest rate typically lower (after initial period, the rate is adjusted, potentially increasing annually)
- Can "buy more house" up front
- Ideal if you plan on selling the house in 5-7 years
- Ideal if you expect your salary and income to increase within a few years
