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Types of Real Estate Mortgages

Now is the best time to buy real estate. Learn more today about becoming a quantified buyer. Many home owner use these kind of mortgages loans

  • Fixed-Rate Mortgage Types
  • 10-year, 15-year, 20-year-, 30-year, 40-year and even 50-year fixed-rate mortgages, all of which are completely amortized
  • FHA Loans
  • First-time home buyers are ideal candidates for an FHA loan
  • VA Loans
  • The loan is guaranteed by the Veterans Administration, but funded by a conventional lender.
  • Interest-Only Mortgage Types
  • Borrower pays only interest on the loan

    Hybrid Types of Mortgage Loans

  • Option ARM Mortgage Types
  • They are adjustable-rate mortgages
  • Option ARM Mortgage Types
  • Borrowers take out two loans when the down payment is less than 20% to avoid paying private mortgage insurance
  • Adjustable-Rate Mortgage Types
  • The interest rate fluctuates
  • Mortgage Buydowns
  • Buyers, sellers or lenders can buy down the interest rate for the borrower

    Specialty Mortgage Loan Types

  • Streamlined-K Mortgage Loans
  • Like the 203K loan program
  • Bridge / Swing Loans
  • The seller's existing home is used as security for a bridge (also called swing) loan
  • Equity Mortgage Loan Types
  • Borrowers may take out equity loans to receive cash
  • Reverse Mortgages
  • Reverse mortgage are available to any person over the age of 62

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