Mortgage Types: What's Right For you?

This is an age-old question that people have been asking for about as long as there has been home financing. Although the practice of lending has evolved dramatically over the past years, the basics are still the same. Indeed some of the old standby loans are still offered and are usually the best option as well. This article will explore the most commonly used home loans and explore some of their merits and drawbacks.



Fixed Rate Mortgage - This is by far the most common and desirable mortgage. It is also one of the oldest types of home loan going. This is what most people are referring to when they speak of a mortgage. Fixed rate loans are usually amortized over a set period of time, 30 years for example. The fixed interest rate is what makes t View the rest of this article