The 4 Types Of Mortgage Loans Compared And Explained
Why pickone over another? Read on to choose with confidence. 1. Fixed-Interest Home Loan 2. Adjustable-Rate Mortgage (ARM) 3. Interest-Only Loan 4. Federal Housing Administration (FHA) Loan
The Low Down on Down Payments
DETERMINE YOUR DOWN PAYMENT - Don't make the mistake of looking at all your assets and concluding that’s how much you have for your down payment. First, set aside 2 to 5 percent of the purchase price for closing costs. Then, set aside an additional $5,000 to $10,000 (depending on where you live) for relocation expenses, moving costs, furniture and short-term improvements, and unforeseen costs.