Home Mortgage Loan Information - Which Type Of Home Loan Is Best For You?

Written by Carrie Reeder


Continued from page 1

So, who might use an ARM? For starters, if you are purchasing a house for investment purposes and plan to sell it quickly, you might take advantage of low interest rates by getting this type of loan—particularly if it looks as if they may go lower. Another reason to use an ARM as a home loan is if you are buying a home in a time when interest rates are onrepparttar decline. You can take out an ARM, and then change it to a fixed loan oncerepparttar 148317 interest rates bottom out.

Balloon Mortgage

With this type of loan, you will make monthly payments for a fixed amount of time, with a fixed interest rate. The difference is that atrepparttar 148318 end ofrepparttar 148319 payment schedule, you will owerepparttar 148320 unpaid balance in one lump sum. If you use a balloon mortgage, you will find thatrepparttar 148321 interest rates are much lower than either a fixed rate mortgage or an ARM.

The obvious negative to this type of loan is that huge payment due atrepparttar 148322 end, but if you are planning to holdrepparttar 148323 house for a short period of time, then this might berepparttar 148324 loan for you.

By understandingrepparttar 148325 various types of home loans that are available to you, you will be better prepared to make a decision that is just right for you and your family.

To see a list of recommended mortgage loan companies online, visit this page: http://www.abcloanguide.com/mortgageloans.shtml - Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and more about various types of loans.


Home Loan Lenders - Finding The Best Home Mortgage Lender

Written by Carrie Reeder


Continued from page 1

You may want to consider choosing a home loan provider before you start shopping for a home. This will allow you to determine in advance how much you can spend on your new home. Pre-qualifying for a home loan can save you time and trouble while you go throughrepparttar process of buying a home. A pre-approval is an excellent tool when making an offer to buy a home. Sellers likerepparttar 148316 security of knowing your mortgage is already approved and will often negotiate with a pre-approved buyer more readily than with a buyer who must search for a lender after making an offer to purchaserepparttar 148317 home.

Compare mortgage lenders and lending practices to findrepparttar 148318 best possible home loan for you and your family. The interest rate you receive will directly affectrepparttar 148319 amount of your monthly mortgage payments. A little research can save you thousands of dollars overrepparttar 148320 life of your mortgage.

To see a list of recommended home equity loan companies online, visit this page: http://www.abcloanguide.com/homeequityloan.shtml - Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and more about various types of loans.


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