A lot of potential home buyers believe there are only
a few kinds of mortgage plans, but you should be happy to know there are a variety of home loan types and ways to go about financing the purchase of a property.
Not exact matches
There are reasonable uses for these
kinds of mortgages, especially if you have reason to expect an infusion
of cash a year or two down the road, or plan to sell your house in a
few years (though watch out for mistake # 2).
To decide what
kind of mortgage payment your finances can bear, it's helpful to take a step back and to ask a
few basic questions about your savings, income, and expenses.
If you are in a slow market with very
few buyers, the seller probably won't care what
kind of mortgage you have — as long as you've been approved for the loan.
The U.K. doesn't have the
kind of secondary market the U.S. does, so with very
few exceptions, building societies don't bundle and securitize
mortgages.
If you are in a slow market with very
few buyers, the seller probably won't care what
kind of mortgage you have — as long as you've been approved for the loan.