6 Loan Types Houston First Time Home Buyers Can Choose From
Hello again, you may have heard it before, that buying a house is a big deal for a first time home buyer. Well, the thing is, choosing the right mortgage loan type is a part of that big deal.
You will have a lot of questions and our goal is to make sure you choose the mortgage loan type that is best for you. That being said, as you think about your loan type, below you will find 6 of the most popular type of mortgage loan. Before choosing one, here are a few things to consider.
How much can you borrow?
How is your credit score?
How much down payment money do you have?
Will you need down payment assistance? If the answer is yes, this will affect your interest rate.
Do you want a fix or variable rate mortgage?
How long do you plan on living in the home, 5, 7, 10 or longer?
Understanding how important it is to choose the right mortgage loan type can mean the difference between getting a very expensive mortgage that keep you up at night versus one that will saves you thousands of dollars over the life of the loan.
As always, thank you so much for stopping by. Until next time...Diana
Image by Diana for First Home Houston
