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I want low monthly payments

If having a low monthly payment is your priority, consider an adjustable rate mortgage, or a mortgage with a longer term – 35 or 40 years. *

With an adjustable rate mortgage, your interest rate usually starts out lower than the rate you’d get with a fixed-rate loan. And you can choose how soon your rate adjusts. Atlantic Coast Bank has loans that adjust each year, or loans that don’t adjust for 10 years, and everything in between.

If you’d rather have a fixed-rate mortgage, consider getting your loan for a longer term than the standard 30-year term. Terms at 35 years or 40 years lower your monthly payment and allow you to buy a larger house, if you’ve got a growing family. Atlantic Coast has a mortgage to fit every budget.

*Representative example for loan terms:
A loan of $300,000 with a 4.875% Fixed Rate (4.92% APR) would have the following
payments or principal and interest with the following terms:

*      30-year mortgage would have 360 monthly payments of $1,587.92 each.
*      35-year mortgage would have 420 payments of $1,490.23 each.
*      40-year mortgage would have 480 monthly payments of $1,421.84 each.

Based on a FICO of 750 and a purchase with 20% down or 40% equity on a cash out transaction.
Payments do not include taxes and insurance and your actual payment obligation will be greater. Rates vary daily.