Fixed Rate Mortgages

Features

• Good for purchase or refinance, with terms of 10, 15, 20 or 30 years
• The interest rate and monthly payment stay the same for the life of the loan
• No penalty for prepaying your loan
• Use your loan to buy a primary residence, invest in a second home or buy an income property

Why choose a fixed-rate mortgage

• You want a stable monthly payment
• You believe interest rates could rise in the next few years
• You plan to stay in your home for many years

Adjustable Rate Mortgages (ARMs)

Features

• Good for purchase or refinance, with term of 30 years
• Initial fixed interest rate for 1 year, 3 years, 5 years and 7 years
• Protection against unlimited interest rate increases
• Many of our ARMs are assumable
• Use your loan to buy a primary residence, invest in a second home or buy an income property
• Loan proceeds can be used to purchase or refinance

Why choose an ARM

• You want lower initial monthly payments than a fixed-rate mortgage usually offers
• Lower initial monthly payments means you can buy more home
• You plan to own your own home for no more than the initial fixed rate period
• You think interest rates may be headed down in the next few years

To apply for a mortgage loan with Coast Bank of Florida please contact one of our loan officers at 800-354-6096 or LoanApplication@CoastBankFlorida.com.