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Choosing a Loan Program

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.


Tom has been excellent for us. He came highly recommended from a friend who has bought multiple properties with Tom's help. We bought our first home a year and a half ago, and he was able to get us the best mortgage terms. After 14 months in our new house, he reached out to us and ran a few scenarios to demonstrate how the market was amenable to a refinance for our situation. Now we are saving about $150 a month over our previous mortgage. Tom and his team were always available to chat and help me work through my decision. I appreciated his honesty and clarity, and especially his promptness. I recommend Tom to all my friends looking for a mortgage. - Joe & Jen Wilmington, MA
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