There are many mortgage loan options available on the real estate market. If you’re searching for a new home, understanding financing options available can give you a bird's-eye view of the best interest rates and overall conditions suiting your personal situation.
One of the most common types of mortgage loans homeowners borrow is a conventional fixed rate loan. This mortgage type is characterized by it’s interest rate that remains the same over the lifespan of the loan.
Around 75 percent of residential mortgage borrowers have a conventional loan, with the most popular term limit being 30 years. However, other term options are available including, 10, 15 and 20 years.
The U.S. Department of Agriculture offers USDA loans to middle and low-income households seeking to purchase property in rural areas.
This loan type is applicable to areas with a population of 35,000 or fewer residents and usually doesn’t require a down payment.
FHA loans are government backed and offered by private lenders which gives homebuyers the opportunity to qualify for a loan whereas they may have not been eligible for a traditional mortgage. FHA loans are more flexible but may come with higher interest rates and a larger down payment depending on your credit score.
There are many types of loans for homes, so take your time while reviewing your options. Consider hiring the help of a mortgage broker to help you compare and contrast your loans best fitting your lifestyle and needs.
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Using my enthusiastic personality, entrepreneurial drive and caring nature is ideal for helping me to connect with & identify each of my clients desires towards their real estate goals. These qualities along with my experience in the home buying, selling & building process, allow me to efficiently guide my clients in their home selling or buying process.
Born & raised in Northwest Indiana and currently reside in Valparaiso with my husband Mike, our son Hayden & dog Gadget. In addition to my passion for Real Estate, I also work alongside them helping to run our local family-built Plumbing/HVAC businesses.
We enjoy spending most of our free time together with family & friends at our Lake House in Monticello!
I’m here for your Selling & Buying needs, Proudly representing NWI, Monticello & surrounding areas!
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