Choosing the Right Mortgage Loan
Selecting the correct mortgage loan is not easy, as there is a wide selection of different
You should narrow the field by evaluating your personal circumstance and answering the
Do you prefer a fixed or fluctuating payment structure?
How quickly can you, or do you intend to pay off the mortgage loan?
How flexible are you with payments today, or in the future?
How long do you intend to live in the house?
Below is a list of some of the more common mortgage types.
Adjustable-rate mortgages (ARMs)
Cost of Funds-Indexed
CD - Indexed
Once only adjustable
Government - Insured loans
Federal Housing Administration (FHA) loans
Department of Veterans Affairs (VA) loans
Rural Housing Service (RHS) loans
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