Home Mortgages
A Variety of Home Mortgages to Suit Your Specific Needs
Because your home is one of the most important investments you'll make in your life, it's important to understand all of your home mortgage alternatives. Having as much information as possible will help you make a decision that could have a positive impact on your financial future, especially in the long-term.
Types of Home Mortgages
Whether you're looking to buy a new home, refinance your existing home, or purchase an investment property or second home, Wachovia Securities offers access to a variety of home mortgage options available to suit your specific goals. We can help you find one to fulfill your investment goals.
Fixed-rate home mortgages. Through our affiliates, we can offer flexible fixed-rate loan terms for traditional home mortgages. (Interest-only payment options are available.)1
Adjustable-rate home mortgages.2 This home mortgage alternative gives you the flexibility of a lower initial interest rate for a fixed period of time, which then converts to an adjustable-rate mortgage for the balance of the term. Flexible fixed-rate choices and interest-only payment options are also available.1
Construction-to-permanent home mortgages.3 This type of home mortgage lets you finance the construction of a new home by providing interest-only payments during the construction phase. Once the home is built, the loan may seamlessly convert to a traditional home mortgage. (Interest-only payment options are also available.)1
Lot loans.4 A lot loan gives you the ability to finance land purchases with fixed- and variable-rate options. (Interest-only payment options are also available.)1
Contact Us for More Information About Home Mortgages
For more information about home mortgages, contact a Wachovia Securities Financial Advisor.1The interest-only option typically allows for monthly payments during the first 10 years of the 30-year mortgage to be comprised of interest only, calculated based on your outstanding principal balance each month. During this interest-only period, your principal balance will not decrease unless you voluntarily make principal payments in addition to the required monthly interest payments. Beginning with the 11th year, your monthly payments will adjust to cover the unpaid principal balance and interest required to fully repay the loan over the remaining term.
2Adjustable-rate mortgages maintain a fixed rate for the defined term and then adjust every year thereafter.
3A nonconversion fee may be requested if you do not close your permanent financing with Wachovia Mortgage, as allowed by applicable state law.
4Not available in all states. A balloon payment will result after the initial interest-only period.
Lender may take a security interest in your home, if applicable.
Lending and other banking services available through the Banking Services Group of Wachovia Securities are offered by banking and non-banking affiliates of Wachovia Corporation, including, but not limited to Wachovia Mortgage, FSB; Wachovia Bank, National Association; Wachovia Bank of Delaware, National Association; or Wachovia Financial Services, Inc. All loans and lines of credit are subject to credit approval, verification and collateral evaluation. Wachovia does not provide legal or tax advice. Be sure to consult with your tax and legal advisors before taking any action that could have tax consequences. Certain restrictions apply. Initial decision is subject to you meeting specific underwriting requirements and final approval will be based upon your satisfying those requirements.
