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Whether you’re purchasing or refinancing, we have a variety of home mortgage loans to fit your changing needs.
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More than an account number — our team works hard to get to know you.
Enjoy the best rates around with loan options customized to you.
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At TFNB Your Bank for Life, we’ve been in the business of providing loans for homeowners in Central Texas for over the last 130 years. With competitive rates, personalized solutions, and a commitment to your financial future, we’re your trusted path on the way to home sweet home.
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Most frequent questions and answers.
A mortgage is a type of loan specifically designed to purchase real estate. In a mortgage agreement, the buyer borrows money from a lender (usually a bank) to buy a home or other real estate. The borrower agrees to repay the loan, plus interest, over a set period, typically 15 to 30 years.
An Adjustable-Rate Mortgage (ARM) is a type of mortgage in which the interest rate can change periodically based on changes in a corresponding financial index that’s associated with the loan. Generally, your monthly payment will increase or decrease if the index rate goes up or down.
In a fixed-rate mortgage, the interest rate remains the same for the entire term of the loan. With an ARM, the interest rate can change periodically, affecting your monthly payments. ARMs often start with lower rates than fixed-rate mortgages, but there’s the risk of the rate (and your payment) increasing in the future.
The initial interest rates on ARMs are typically lower than those on fixed-rate mortgages, which can make it easier to afford a more expensive home. ARMs can be a good choice if you plan on selling or refinancing before the adjustable period kicks in.
The choice between a fixed-rate mortgage and an ARM depends on various factors, including how long you plan to stay in the home, your financial stability, and your tolerance for risk. If you plan to stay in the home for a long time and want predictable payments, a fixed-rate mortgage may be better. If you anticipate selling the home before the rate adjusts or are comfortable with the risk of fluctuating payments, an ARM might be a suitable option.