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Buying a Home Info.com - The Home Buying Resource on Home Buyers |
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Buying a Home - types of mortgage loans
Buying a Home - what types of home loans are available and what are the advantages of each? Fixed
Rate Mortgages: Payments remain the same for the life of the loan Types Advantages Housing
cost remains unaffected by interest rate changes and inflation. Adjustable
Rate Mortgages (ARMS): Payments increase or decrease on a regular
schedule with changes in interest rates; increases subject to limits Types Two-Step
Mortgage- Interest rate adjusts only once and remains the same for the
life of the loan ARMS
linked to a specific index or margin. Advantages >> Learn if an ARM loan (adjustable rate mortgage) make sense when buying a home
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