Your personal finances, the lender’s requirements and how long you plan to stay in a home all factor in to choosing a mortgage. Compare the four primary types to find the right loan for you.
Fixed-rate mortgages: The most common type, these loans offer a consistent interest rate over the life of the loan. While the stability is helpful, you’ll have to refinance and pay closing costs again if you want a lower rate in the future.
Adjustable-rate mortgages: These mortgages offer lower rates initially, but after a specific amount of time, your rate resets – meaning your payments could rise or fall for the duration of the loan.
Government-insured loans: For those who qualify, these loans often have more lenient credit requirements and lower down payments than conventional loans.
Jumbo mortgages: More common in higher cost areas, these mortgages exceed the federal loan limit and require buyers to have excellent credit scores, significant assets and substantial cash for a large down payment.
IT’S A GOOD LIFE!!
Rachel Sheller,Principal Broker, Realtor, CRS, ABR, GRI, SRES,MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First
Direct 503.380.9634, Email- email@example.com
View this ALL available Houses on the market on my website.
Licensed in the State of Oregon and Washington
My business is referral based. If you’ve enjoyed my service, please refer me!
#realtor #oregon #realty #portland #Troutdalehomesforsale #troutdale #rachelsheller #therightmortgage #realestateagent #rachel #portlandrealestatemarket #Greshamhousesforsale #portlandrealestate #portlandhousing #Portlandhomesforsale #sheller #realestateblog #realestate #Greshamhomesforsale #Realtors #mortgages