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2015 US Home Loan Guide

2015 US HOME LOAN GUIDE WHAT TYPE OF LOAN IS GOOD FOR YOU? You want to get a mortgage but you just don't know which is the best home loan for you. Don't worry; there are millions of people in the same situation as you. This handy infographic will guide you through the different options available to you for 2015. FEDERAL HOUSING ADMINISTRATION INSURED HOME LOANS Over 7.7 million people have FHA-insured home FIXED RATE MORTGAGE HOME LOANS loans FHA home loans are for people on a low income or Eg9 can't afford a large down They are the most-popular form of home loan in payment They got established by Congress back in 1934 the United States Applications for FRM home loans They are insurance policies on home loans, designed to lower the lender's risk soar when interest rates are low Down payments can be as low as 3.5% of the First-time buyers choose FRM home FOR SALE loans if they aren't planning to sell property's value up soon The only negative point is you have to pay monthly AND annual mortgage If interest rates drop, you can't take advantage of them unless you insurance premiums refinance ADJUSTABLE RATE MORTGAGE HOME LOANS VETERAN AFFAIR HOME LOANS Sometimes known as variable rate home loans It's a home loan Monthly payments go down when interest rates program created by the Department of Veteran Affairs go down But they can also rise if the reverse is true It allows veterans and serving members 103.3% financing without mortgage insurance They are seldom chosen by first-time buyers VA home loans can save thousands in comparison to conventional home loans Typical ARM home loan interest rates: 2.65% A one-off funding fee of up to 3.3% 2$ must get paid to the DOVA HOW TO SAVE MONEY ON YOUR MORTGAGE Look for deals Tax that allow you to pay less mortgage Get a pre-approval if your credit Score isn't great Don't borrow any money before you apply for a home loan Keep a copy of your insurance last two tax returns if you are self-employed HOME-BUYING AND PROPERTY STATISTICS 1.2 million people bought brand new Average price of new homes: houses in 2014 Average price of existing properties: $214k $292.2k 64% of Americans own their home Most-expensive place to live in the United States: New York City 24loans HOURLY home & auto experts Sources:

2015 US Home Loan Guide

shared by taylordavies8788 on Mar 27
So you are in the market for a home loan and need a little direction. With so many options, it can be overwhelming for first-time home or condo buyers. Our free 2015 US Home Loan Guide has just been r...




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