Mortgage Loan Options

Conventional fixed-rate mortgages have a consistent interest rate for their entire term, so your payments remain the same for the life of your loan. A fixed-rate mortgage may be right for you, if you prefer to budget a specific payment amount into your monthly expenses.

Adjustable-rate mortgages (ARM) offer lower initial interest rates. After a specified period, these rates adjust annually to a new rate. An ARM may be right for you if you want increased buying power or expect to move or see an increase in income before your mortgage adjusts.

When you are building or renovating a home, a BB&T construction-to-permanent loan covers you from the ground up. Financing for the lot, construction and mortgage are covered in a single loan. Since there is one closing, and one set of closing costs, you save time and money.

Veteran's Administration (VA) loans are available to qualified veterans, active duty, reserves and National Guard personnel. Loans are residential mortgages, allowing for the purchase or refinance of an owner-occupied home. BB&T offers a variety of payment terms for VA loans.

BB&T Home Mortgage offers a variety of programs to help first-time home buyers and buyers with limited credit or income realize their dream of homeownership. Your BB&T mortgage professional will help you determine which loan is best for you.