Which Types of Mortgages Are Available? (And Which One is Right For You)

by Jay Calafiore

mortgages1011No matter what kind of market exists, it has never been easier to buy a home.

By far the greatest benefits to all the mortgage options available today are flexibility and accessibility.  Previously, you had a save a 25% down payment and were limited to strict amortization options.

That’s not the case anymore.

This is why shopping for a mortgage can be an exciting step on the path to homeownership.   A vast array of creative and safe mortgage products are being offered by the lending industry making the dream of homeownership much easier and more real.

Not only has it never been easier to buy a home, it’s never been easier to buy more home.

Longer amortization periods and simply being able to borrow more money are why this is now possible.

Of course with more options your decision can be more complicated.  Certain mortgage products will be a better fit for you than others.

Choosing the right mortgage really comes down to criteria like whether you have a down payment or not, whether you like taking risks or are more conservative, and whether you have steady income or are self employed.

But if you keep these criteria in mind, it becomes much easier to make informed decisions,  especially if you know a little bit about the different mortgage options available to you.

An Easy Guide to Fixed Rate Mortgages

FREE Email Course: Zero to Mortgage Pre-Approval
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Are you a potential first time homebuyer looking to get the keys to your first place? Well your first step is to get pre-approved for a mortgage.

How? I’ve put together a five-part free email class that spells it out, step-by-step. Sign up below: Each one gets delivered to your email inbox hot & fresh about every 3-4 days. It it you’ll learn:

  • Why you should get pre-approved now
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How a Mortgage Works - The Nuts and Bolts — Mortgage Blogger
February 17, 2010 at 7:00 pm

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