First Home Mortgage

Buying your first home is really exciting , but you need to know a lot about what you are committing to, and how you will be able to afford your home. You need to do some serious homework, but this is relatively easy, as there are many mortgage companies who will help you to keep informed about mortgages and home buying.

There are two basic types of loans, fixed rate loans and adjustable rate mortgages (ARMs). Fixed rate loans give you a fixed interest rate for the life of your mortgage. You have a choice of 10, 15, 20 and 30 year periods for the loan, but most people choose 15 or 30 years. These mortgages are good if the interest rate is low when you take out your mortgage, and you plan to stay in the house for at least 5 years.

Adjustable rate mortgages have variable rates over the life of the mortgage. There are a variety of different mortgages under this category, some of which have fixed interest rates for periods of the mortgage, for instance for the first five years, and then the interest rate will be adjusted according to a specific index such as Treasury bills. This can be useful if you expect your income to increase dramatically in the future, or if you are planning to move in the first five years.

Whichever kind of mortgage you choose, do your homework and make sure that you understand how much your total monthly costs for your mortgage are going to be.

GuideToLenders

You found the perfect home — now you need the perfect loan. Imagine having the best mortgage lenders competing for your business. At GuideToLenders.com, up to four lenders will provide you with the best rates and options available. Whether you have excellent credit or have declared bankruptcy, our lenders are eager for your business. Different types of first mortgages offered are 30-year fixed, 15-year fixed, adjustable rate, and interest only. It takes less than a minute to apply, so get started right now.

MoneyNest

MoneyNest can help you search through hundreds of lenders and to find the most competitive rates. Get loans for mortgage refinancing, second mortgages, a home equity line of credit, home improvement, or debt consolidation. No fees are required and all credit histories are considered.

Countrywide Home Loans

Qualified homeowners – even those with less-than-perfect credit – may now access their home’s equity to get cash, consolidate debts, and lower monthly expenses. Countrywide Home Loans may also help applicants who are self-employed or have high consumer debt. We offer competitively priced home loan programs, including fixed rate, adjustable rate, refinance and home equity loans.

INVESTools

The advantage of having an easy-to-follow, step-by-step investing process with easy-to-use Web-based tools is that you rely on facts to make decisions – not emotions. The benefits are less stress, better results and, dare we say it, fun.

The following two tabs change content below.

Financial Entrepreneur

I'm passionate about business and finance. After working 10 years for an international organisation, earning more money than most people would need to have very good life, I decided to jump on my own life and businesses. My main incomes are from my financial investments and businesses.

Latest posts by Financial Entrepreneur (see all)

Comments are closed.