Young family standing in front of sold sign for their home.

Purchase Loans

There are multiple types of purchase loans. The best loan for you will depend on your unique circumstances.

Ideal for: Borrowers who prefer stable principal and interest payments on their mortgage.
  • Includes a fixed interest rate that won’t change over the life of the loan.
  • Usually comes in repayment terms of 10, 15, 20 or 30 years.
Ideal for: Borrowers who plan to move or refinance before the fixed-rate period on their loan ends.
  • Includes a variable rate, which can change based on market conditions.
  • Typically begins with a mortgage rate that is lower than fixed-rate loans.
  • Comes with a lifetime adjustment cap, which often means the variable rate can’t jump by more than five percentage points over the life of the loan.
Ideal for: Borrowers who need a mortgage that exceeds conforming loan limits.
  • Includes stricter credit score and down payment requirements than conforming loans.
  • Typically has a wider range of eligible property types.
Tracie Worley professional photo.

Tracie Worley
Mortgage Banking Manager
Serving  Johnston County,
Wake County and Wayne County

1031 N. Brightleaf Blvd.
Smithfield NC 27577
(919) 938-2652
NMLS #452431

Kelly Aycock professional photo.
Kelly Aycock
Mortgage Loan Officer
Serving Johnston County
and Wilson County

115 West Anderson Street
Selma, NC  27576
(919) 965-6351
NMLS#: 452417