So which is better fixed rate or adjustable rate mortgage?

Written by Syd Johnson


Continued from page 1

So which one really is better? If youíre going to stay in your home for 30 years or more thenrepparttar fixed rate loan will usually give you a better deal. As your income increases, you wonít have to worry about fluctuating payments so you can put any extra cash towards savings accounts and retirement funds. Otherwise, it depends on how you feel about your monthly payments. If you think that you can get a better deal by playing againstrepparttar 150848 market rate inrepparttar 150849 hope that youíll end up with much lower payments at some point, then you should get an adjustable rate loan.

Talk to a financial advisor or a loan officer about your concerns before decide to getrepparttar 150850 most up to date options on both types of loans.

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You donít need 10% or 20% down to get a home mortgage

Written by Syd Johnson


Continued from page 1

One of these methods will sure work for your so donít hesitate to get preapproved for your home mortgage today.

Can you avoid private mortgage insurance with less than 20% down?

Inrepparttar past,repparttar 150847 only way to avoid paying monthly private mortgage insurance (PMI) premiums was to have put at lease 20% down on your home mortgage. Today, many home mortgage lenders have created a variety of creative financing packages to help you get approved for your loan and avoid PMI even if you put down less than twenty percent.

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