TYPES OF LOANS (Part I)

As your real estate agent, my responsibility is to equip you with all the essential tools and information you may need. This ensures you're well-prepared to make informed and confident decisions regarding your real estate endeavors. 

Fixed-Rate Mortgages: These types of loans have an interest rate that remains constant throughout the entire duration of the loan. This unchanging rate offers a sense of security and predictability for borrowers. Fixed-rate mortgages are commonly available in different term lengths, including 15, 20, or 30 years.

Adjustable-Rate Mortgages (ARMs): Beginning with an initial lower interest rate, ARMs have the potential to fluctuate after a set period of time. This kind of loan might be a good fit for those who anticipate selling or refinancing their home before the rate adjusts.

FHA Loans: Supported by the Federal Housing Administration, these loans cater to buyers with low to moderate incomes. With typically lower requirements for down payments and credit scores, FHA loans are designed to make homeownership more accessible.

VA Loans: Exclusively for veterans, active-duty military personnel, and certain National Guard and Reserve members, VA loans are known for requiring no down payment. These loans come with attractive terms and are meant to honor those who have served.

USDA Loans: Targeting those looking to buy in rural or suburban locations, USDA loans are guaranteed by the United States Department of Agriculture. They provide financing for 100% of the home's purchase price for eligible locations and buyers, promoting homeownership in less densely populated areas.

DISCLAIMER  I AM NOT A MORTGAGE LENDER, FOR MORE IN-DEPTH QUESTIONS PLEASE CONTACT YOUR LENDER. 

If you don't have a lender I can provide you with my preferred lender list.