We know everyone wants both. The lowest rate and the lowest monthly payment. Unfortunately, no bank will give you both.

You might ask why?

The answer is simple. The bank takes on more risk when they give you a 30 year loan, and they take on less risk with a 20 year or 15 year loan. If you pay back a loan over 30 years, your payments are going to be lower than if you try and pay it back in 10. There is a correlation between terms and rates.

This is why the loan terms are so important. You can pay less money every month, at a higher rate. Or you can pay more money every month at a lower rate.

Try our loan calculator below, it will make a lot more sense if you test different scenarios.

If you like what you see, start your loan application, and we will make it a reality.