May 12 2015 Mortgages

May 12 2015 Mortgages

Hello All,


Today I want to talk a little about mortgages.

There are many different mortgages you can get through brokers and banks. The interest rates and loan types vary in details. There are USDA loans, FHA and VA loans, foreign national loans (loans for foreigners), conventional loans, etc. Loan types include but are not limited to FRMs (fixed rate mortgages) of 10 yr, 15 yr, 30 yr, ARMs (adjustable rate mortgages) of 1-7 years with interest rates adjusting after the fixed term. These are the two most common mortgages.

Your credit and income are two of the biggest factors in determining your interest rate and maximum loan limit.  

It is always advisable to get pre-approved for a mortgage at the beginning of your home search. If you need referrals Realtors will be happy to give you a couple of references.  

If you have any questions feel free to contact me. If I don't know the answer I will get you to the proper people who can.

Have a good day and look for my next post soon!


Happy House Hunting!!


Linda Sanders Headshot
Author:
Phone: 407-287-2393
Dated: May 12th 2015
Views: 483
About Linda: Co-owner of a multi-award winning property management company and REALTOR® I immigrated to Flori...

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