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* Based on National Averages.

Getting Started With A Loan

Quick Tips To Make Sure You Choose The Right Loan.

Before considering your loan options, you need to look closely at your future plans. The answers to the following questions could greatly affect your best loan option.

Before considering your loan options, you need to look closely at your future plans. The answers to the following questions could greatly affect your best loan option.

Let's Get Started!

  • How long do you plan to live in the home you are buying?

  • What is the possibility of future changes that would require you to move to another location?

  • Do you expect any significant change to your income in the next few years?

  • Do you have a contingency budget for unexpected expenses?

  • Will you need to make any major improvements to this home?

  • Is it important for you to build home equity quickly?


The answer to each question will have a significant impact on the type of loan which will be appropriate for you. Before you even start to search for your home financing, you should carefully consider each of the questions above and answer them as realistically as possible.

Remember, there are many loan programs available and there is no single home loan program that fits everyone. Before you can make the right decision of choosing your home loan, you have to start by identifying your needs. For example, if your career and income are stable and you plan to live in your home for a long time, a fixed rate mortgage may be suitable for you; however, if you expect to live in your home for a short period of time, an adjustable rate mortgage may fit your needs; if you want to build your equity quickly, a 15-year loan will help to build your equity much faster than a 30-year loan.

The examples show different home loan programs that are geared to provide different benefits. Remember to focus on your needs when choosing a loan.

 


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        ©2007 Capital Mortgage & Investments, a division of Genesis Financial Group Inc.

Title VIII of the Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents of legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability). Mortgage Calculators hard code courtesy of http://www.open-realty.org National averages courtesy of http://www.pqsmortgageleads.com