What is a fixed rate mortgage loan? A fixed rate mortgage means the borrower has the same monthly payments on the mortgage every month. Fixed rate mortgages are repaid within a specific time frame (10, 15, 20 or 30 years). Watch this Expert Real Estate Tips segment for all you need to know about fixed rate mortgages. Play video
What is a Fixed Rate Mortgage?
What is a fixed rate mortgage loan? A fixed rate mortgage means the borrower has the same monthly payments on the mortgage every month. Fixed rate mortgages are repaid within a specific time frame (10, 15, 20 or 30 years). Watch this Expert Real Estate Tips segment for all you need to know about fixed rate mortgages. Play video
What is an Interest Only Loan?
What is a interest only loan? Interest only loans keep monthly mortgage payments low and are good mortgage loans for short term home owners. How do interest only loans work and how many years are interest only loans good for? Watch this Expert Real Estate Tips video on interest only loans and find out if an interest only loan is the right mortgage for you. Play video
What is an Adjustable Rate Mortgage (ARM)?
What is an Adjustable Rate Mortgage or ARM? What is the difference between a fully amortized loan and an interest only ARM? Watch this Expert Real Estate Tips video about adjustable rate mortgage loans (ARMs) and how they adjust after a fixed period of time. Play video
What's a Town House?
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Town houses are another option when you want to buy a home. They tend to be larger than a condo or co-op but likely still have a homeowners association. Make sure you understand the terms of the sale as a home buyer. Play video
What's a Co-Op?
Another home buying option is purchasing a co-op. Buying a co-op is actually buying shares into a corporation that owns the building. Co-op boards control who can buy a home in their buildings. Play video