What type of mortgage is right for you?
Fixed or variable rate? Low down payment or home equity? With so many loan options to choose from, how do you decide?
- Easy to budget since monthly payment does not change
- Favorable interest rate is locked in for the loan term
- Good if you're planning to stay in your home more than 5 to 7 years
- Lower initial interest rates and payments
- Adjustable rates with options of 3, 5, 7 and 10 years
- Best if you plan to refinance or move before rate adjustment
- Single loan finances the lot and construction
- Interest-only payments for up to 12 months of construction
- Adjustable rate loans available with options of 3, 5, 7 and 10 years
Low down payment
- Low down payment required and greater percentage of financing available
- Flexible ways to fund closing costs
- Lower income and credit score requirements
- Ideal for financing home improvements or other large expenses
- Flexible loan or line of credit options
- Potential tax savings on interest paid
Veterans Administration loan
- Low or no down payment required
- Limited income and credit history considered
- 100% financing available
Shopping for rates?
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*Annual percentage yield. See additional information in the disclosures below.
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- Call 800-295-5744
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Loan Assumptions for Trending Rates
Determining rates is a complex process. Because we do not have all of your financial information, the rate and payment results displayed may not reflect your actual situation.
BB&T offers a wide variety of loan options, and you may still be eligible for a loan even if your situation does not match our assumptions. Rates vary according to market conditions and financial profiles.
These example rates are based on the most current APR and: Loan Amount $200,000; Credit Score over 740; Primary Home; Single Family Dwelling; with a 20% down payment or 20% equity in the property.
The proposed monthly payment and rate does not include estimated tax payments or monthly premium payments for flood insurance or homeowners insurance. These amounts will be determined at a later date.
The current rate for the 30-year fixed purchase mortgage is based on a $985 origination fee; 1.125 discount points and would yield 360 equal payments.
The current rate for the 15-year fixed purchase mortgage is based on a $985 origination fee; 1 discount points and would yield 180 equal payments.
The current rate for the 30-year fixed refinance mortgage is based on a $985 origination fee; 1.5 discount points and would yield 360 equal payments.
The current rate for the 15-year fixed refinance mortgage is based on a $985 origination fee; 1.375 discount points and would yield 180 equal payments.
Rates and pricing may vary and are subject to change at any time without notice.
Loans, lines of credit and credit cards are subject to credit approval.
All BB&T mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry (NMLS), which promotes uniformity and transparency throughout the residential real estate industry. Search the NMLS Registry.
Branch Banking and Trust Company is a Member FDIC and an Equal Housing Lender.