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Getting the right type of real estate home loan is an important part of the home buying process. In this section of my web site I have put together some basic information regarding the types of real estate home loans that are common in the market today.
Fixed rate mortgages are mortgages where the interest rate stays the same for the entire term of the loan. The advantage to a fixed rate mortgage is that if you lock a relatively low rate, your payment won’t go up when rates do.
With an adjustable rate mortgage, the rate of the loan can change throughout the term of the loan. The rate of the loan is based on adding points to a fixed base.
A hybrid loan combines a fixed period along with an adjustable component. Usually these loans are fixed for a period of time and then the loan becomes adjustable where it is dependant on current rates.
An FHA loan is a loan in the United States that is insured by the Federal Housing Administration.
A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA was designed to offer long-term financing to American Veterans or to their surviving spouses.
The following links are designed to help you with your upcoming home financing. Please call or email with any questions or concerns.
If you’d like to receive more information about more specific Sun City, homes for sale in sun city arizona Grand real estate and properties for sale loan programs in Sun City, Peoria or anywhere in the North West Valley of Phoenix, Arizona please contact me today!
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