We realize that one size doesn't fit all, especially when it comes to mortgages, so VCB has a variety of mortgage programs to fit your needs.
And we're always here to help discuss your mortgage options and answer any questions you may have about our programs or loan process.
VCB Mortgage Comparison Chart
| Loan Programs | Advantages | Disadvantages |
|---|---|---|
Fixed Rate Mortgages |
Monthly payments are fixed over the life of the loan Interest rate does not change |
Higher interest rate |
Adjustable Rate Mortgages (ARMs) |
Lower initial monthly payment Lower payment over the first fixed period of the loan Payments may go down if rates trend down |
Risk of increase in rates Payments may increase at time of rate adjustment |
Interest Only ARMs |
Lowest possible monthly payments | Payments may increase significantly at time of rate adjustment and end of interest only period |
First Time Buyer Programs |
Lower down payment |
May be subject to income and property value limitations Some programs which have government subsidies may have a recapture tax if you sell the house too early. |
Home Equity Line of Credit |
You only borrow what you need Pay interest only on what you borrow Flexible access to funds Interest may be tax deductible* |
Rates can change. The maximum interest rate is normally high Payments can change Harder to refinance your first mortgage |
| Home Equity Fixed Loan | Fixed payments Interest may be tax deductible* |
Higher interest rates than on first mortgages Harder to refinance your first mortgage |
We consistently offer some of the best rates in town. View our Personal Loan Rates, including Home Equity Loans and Lines of Credit.
Call a VCB Mortgage loan specialist at (703) 961-0160 (Option 0) to let us help you find the right loan for you.
Return to VCB Mortgage’s home page.
*Consult a tax advisor regarding the deductability of interest.
