TYPE OF MORTGAGE LOANS
All mortgage plans can be divided into two categories:
- Conventional Loans
- Government Loans
Government loans are those insured or guaranteed by the government
All other loans are called conventional loans.
There are two types of conventional loans:
-Conforming
-non-Conforming.
A “conforming” loan means that it conforms to the basic guidelines established by Fannie Mae and Freddie Mac and those that does not meet these guidelines are non-conforming.
Some other loans we can mention are:
-Fixed Rate Loans
-Adjustable rate loans
- Hybrid
- Construction Loans
- Negative Amortization loans
- Jumbo loans
- Reverse Mortgage Loan
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Mortgage
One of the most important things to consider when buying a property is for sure the financing process. We recommend that before you begin searching the property you want to buy, you must first search for a loan and the probability you really have to get it.
The unparalleled financial crisis have made it hard to get a loan in today’s financial market, making it essential for consumers to educate themselves in order to secure the best possible loan for their circumstances.
As a buyer you are free to choose the financial institution that best fit your needs and you feel comfortable with.
Our office offers free basic education to anyone who is interested in understanding the nuts and bolts of a mortgage process. If you are interested just contact us for a free advice.
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Large home in Cape Coral with direct gulf Access. 3 beds plus a den,
2 baths, 2 screen porches and two cars garage. Public water and sewer.
Centrally located.
Price: $395,000.00
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