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Credit estimates provide a summary of the financial terms of a mortgage loan and a way to compare offers from multiple lenders and multiple loan programs. Nationwide offer a range of mortgages for first time buyers, remortgage or home movers. Take advantage of our mortgage calculator and receive a mortgage offer today. Fixed-rate mortgages offer a fixed interest rate over the term of the loan.

Commitment loans

It is important when it comes to funding your home to fully appreciate the difference between the different kinds of mortgage lending so that you can safely and securely experience it. There is a fixed-rate mortgage that offers a constant interest over the life of the mortgage. During this period your montly payment remains unchanged, which can be 10, 15, 20 or 30 years.

For you, a fixed-rate mortgage may be the right thing if: They want the certainty that your interest rates will not be changed. Remember only that if a lower interest becomes available, a mortgage at a lower interest will not allow you to take automatic advantage of the lower interest rates. Check out this mortgage loan calculator for ARM and home loan comparisons.

A variable interest mortgage (ARM) provides a firm repricing horizon, during which the interest can rise or fall according to prevailing interest terms. Initial interest charges for the ARM are generally lower than fixed-rate mortgage interest charges during the term. Interest capes are defined in such a way that the interest can never rise or fall by more than the defined interest margin over a previously revealed timeframe.

It may be useful to have an ARM loans if: Remember only that your payment may rise as soon as the introduction phase of the loans ends. Also, the montly payment will be more predictable, making it more complicated to plan other outlays. You can use this variable interest mortgage calculator to find out whether an ARM is right for you.

Known also as a "non-compliant" mortgage, a jumpbo mortgage can be an optional solution if you plan to lend more than $424,100 for your principal place of abode. Remember that the interest rate and subscription requirement for jumpers may differ from those for conventional "compliant" mortgage loans. However, if the actual interest rate is lower than that on your actual loans, you may be able to cut your credit repayments by re-financing your loans.

They may also be able to reduce the length of your loans, which can keep your repayments equal or possibly raise them, according to interest rates and maturities. Remember only that funding your mortgage may involve start-up costs. Find out how much you can economise with our mortgage funding calculator. Find out more.

To help you determine which mortgage option is right for you, please check our mortgage option table below.

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