Sentences with phrase «kind of adjustable rate mortgage»

Were we staying only five or so years then perhaps we would consider some kind of adjustable rate mortgage to save some on interest payments.

Not exact matches

That kind of debt, along with adjustable - rate mortgages, is impacted almost immediately when the Fed raises rates.

There are a lot of different kinds of mortgages, including fixed - or adjustable - rate (ARM), interest - only, balloon mortgages, and special programs sponsored by the Federal Housing Administration and Veteran's Administration.

Basically there are two kinds of mortgage loans: Adjustable and fixed rate.

Adjustable rate mortgages or ARMs are a different kind of mortgage than the standard 15 year or 30 year loans available at your local credit union.

As noted above, and like many mortgage - related things, your mortgage insurance premium is based upon several factors, including your credit score, the amount of your down payment as a percentage of the value of the home (LTV); your choice of mortgage product (fixed rate or adjustable rate — and how frequent the rate adjustment will be); the length of the term of your mortgage (15, 20, 25, 30 years), the amount of the mortgage and of course the level of coverage the investor requires for your kind of loan and borrower profile.

The process can seem daunting, but take it step by step — you'll need to decide what kind of mortgage you want, what repayment plan works with your finances and if you want to pursue a fixed rate or an adjustable rate mortgage.