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3 Types of Mortgage Loans for Home Buyers & Owners

Homebuyers hoping to jump into the mortgage market will find three basic types of loans... Bankrate By Sheila Steiner - May 23, 2016  Fixed-rate mortgage "Fixed-rate home loans can be 10 years, 15 years or 20, but most popular is the 30-year because that makes your payment the lowest," says Floyd Walters, owner of BWA Mortgage in La Canada Flintridge, California.Adjustable-rate mortgage Unlike a fixed-rate home loan, which sports an unchanging interest rate over the life of the loan, the interest rate on an adjustable-rate mortgage, or ARM, can change from year to year....

May 23rd, 2016 | Types of Mortgage Loans, 3 Types of Mortgage Loans for Home Buyers & Owners

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