A4HB Homebuyer's Blog

2.6.1 Types of Loans

There are many types of loans available to consumers in the U.S. market. In part, this is because mortgage lenders make money only if they can find a way to make you a loan. Additionally, it is because home ownership has long been a priority of the U.S. government.  They have put money and programs behind this priority. Much of the diversity in mortgage loan programs can be understood with reference to three factors: The “Term” — 10, 15, and 30-year loans The “Payment Structure” — fixed rate, adjustable rate, and balloon. The “Source” — FHA, VA, conventional, and jumbo

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November 16, 2017 No Comments

2.2.2 Tackle the Trade-off Decisions

Tackle the Trade-off Decisions Gathering Critical Information When you get serious about buying a home, you’ll tackle a series of trade-off decisions. They are often difficult, and sometimes agonizing. You’ll sort them out as you gather information from three areas of concern. Loan types and amounts you will qualify for. How much you can afford, what you are willing to spend, and the type of home you would like to buy. What types of housing are actually available, where they are located, and at what price? Bringing the Options into Focus First-time home buyers often experience some speed bumps in

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November 9, 2017 No Comments