Sentences with phrase «buyer over the life of the mortgage loan»

Not exact matches

Today's FHA buyers had other options in the past — but today, conventional lenders are on the sidelines, mortgage insurers are redlining all over the place, and LLPAs are a fact of life, making conventional loans a lot more expensive for «regular folks.»

The majority of home buyers get a fixed - rate mortgage, because this guarantees the interest rate they pay will remain the same over the life of the loan.

You'll have to meet certain eligibility requirements in terms of income, occupation, or credit, but buyers who use down payment assistance programs save an average of $ 17,766 between upfront savings and lower monthly mortgage payments over the life of the loan.

What buyer wants to pay more over the life of their mortgage loan?

Your interest rate and payment (principal and interest) won't change over the life of the loan, and when you sell your property, the buyer may be able to assume your mortgage.

So when I was on the phone with the buyer and his agent, I explained that over the life of the loan, the difference in the monthly mortgage payment on $ 2.3 million and $ 2.4 million wasn't going to be that large.

While 30 - year fixed - rate loans are the most common type of mortgage, some home buyers seek a 15 - year mortgage with a lower interest rate, which can provide major savings over the life of the loan.

If you want to find it on your own, they will do that, as well, but the nice thing about working with an exclusive buyer agent is that if you need them to, they will look over things like your good faith estimate and the paperwork that you receive from your mortgage company or your lender, and make sure that you're truly getting the best deal over the life of your loan.