SKIP TO SITE NAVIGATION | SWITCH TO GRAPHICAL VERSION

Mortgage Comparison Chart

Chat with a Mortgage Counselor

Fixed Rate Pick-a-Payment^® Mortgage
Description

Product Benefit:
Gives you four predicable payment options each month.
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
Yes

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
No

Low Down Payment ²:
No

Pick-a-Payment^® Adjustable Rate Mortgage
Description

Product Benefit:
Allows for flexible payment options with lowest possible monthly payments¹
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
Yes

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
No

Low Down Payment ²:
No

Flex-Fit Mortgage
Description

Product Benefit:
Low documentation, flexible credit requirements, and larger loan values
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
Yes

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
No

Low Down Payment ²:
Yes

Fixed Rate Mortgages (Apply Now)
Description

Product Benefit:
A stable monthly principal and interest payment if you expect to stay in the home for an extended period. Choose from standard 10, 15, 20, 30, and now 40-year repayment terms.
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
No

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
No

Low Down Payment ²:
Yes

Adjustable Rate Mortgages (Apply Now)
Description

Product Benefit:
The most home for the lowest possible initial payment if you plan to move in the short term. Choose from standard 1, 3, 5, 7, and now 10-year initial fixed interest periods with 30-year terms. ⁴
Additional Features

Fixed Rate:
No

Adjustable Rate:
Yes

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
Yes

Low Down Payment ²:
No

Jumbo Loans (Apply Now)
Description

Product Benefit:
For mortgages over $417,000
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
Yes

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
No

Low Down Payment ²:
No

100% Financing Mortgage (Apply Now)
Description

Product Benefit:
Offers no down payment if you have excellent credit²
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
No

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
Yes

Low Down Payment ²:
No

Community Solutions Programs (Apply Now)
Description

Product Benefit:
Gives those who work in certain community service related professions an affordable way into a home³
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
No

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
Yes

Low Down Payment ²:
No

Government Loans
Description

Product Benefit:
Helps first-time home buyers or military personnel
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
Yes

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
No

Low Down Payment ²:
Yes

Community Lending Programs
Description

Product Benefit:
Great options for those with modest income and limited savings³
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
No

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
Yes

Low Down Payment ²:
Yes

Construction Mortgages
Description

Product Benefit:
Funding during the home-building process
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
Yes

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
No

Low Down Payment ²:
No

Lot Loans
Description

Product Benefit:
Funding for a home lot that can be used for investment or building
Additional Features

Fixed Rate:
Yes

Adjustable Rate:
No

Use for Purchase:
Yes

Use to Refinance:
Yes

No Down Payment ²:
No

Low Down Payment ²:
No

Email this article

Mortgage loans are originated by Wachovia Mortgage, FSB, and are subject to credit approval, verification and collateral evaluation. Products are not available in all states and are subject to change without notice. A prepayment fee may apply. Certain restrictions apply.

¹Pick-a-Payment is a registered service mark of Wachovia Corporation.

² Down payment requirements vary by product and individual circumstances. Please contact us for details.

³ Homeownership education courses may be required for these programs. Income limitations may apply. Please contact us for details.

⁴ For example, on a 5/1 LIBOR Adjustable Rate Mortgage, the interest rate and payment is fixed for the first five years of the loan. The interest rate and payment may adjust every twelve months thereafter and may not increase or decrease more than 2.0% at each twelve-month adjustment. The interest rate cannot increase more than 5% over the term of the loan. A 5/1 LIBOR ARM for $200,000 with a 30-year term and an initial interest rate of 6.622% APR, repayment will consist of 60 monthly payments of $1183. If the interest rate were to increase by the maximum five percentage points to 11.622% APR, then the monthly payment would increase for $1183 to a maximum of $1999 in the fifth year. Other rates and terms are available. The terms used in this example are for illustrative purposes only and the actual terms you receive may be different depending on your individual circumstances.

Equal Housing logo

Access Accounts
Personal Finance Login

Apply Now
All Application Forms

Contact Us
Speak to a Mortgage Specialist
(800) 922-6267
Monday - Thursday
8:00am - 10:00pm ET
Friday
8:00am - 6:00pm ET
Saturday
9:00am - 6:00pm ET

Meet in Person
Schedule a Call

Meet in Person
Mortgage Office Locator

Additional Contact Info
Existing Loan Assistance
Mailing Address

Personal Finance Customer Service

Personal Finance Contacts

Locations
Personal Finance FAQs
Site Map
Glossary
Search

Navigation

Personal Finance Section Navigation

Main Sections of the Site

Search

Search