Is a 30 year fixed rate mortgage loan right for you? What is the advantage of a 30 year fixed rate mortgage? 30 year fixed rate mortgages offer security even if you plan to sell or refinance your home after a few years. Watch this Expert Real Estate Tips segment and learn all the advantages of a 30 year fixed rate mortgage loan.
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Mortgage loan borrowers should expect to pay mortgage fees between 1% and 2% of the mortgage loan amount. Mortgage fees depend on the mortgage loan amount, mortgage loan type, interest rates and when in the month you closed on your home. Watch this Expert Real Estate Tips video for more information about mortgage loan fees and how to estimate other costs associated with mortgage loans.
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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.
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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.
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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.
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