• Home Equity Loan   • Home Refinance Loan   • Home Purchase Loan   • Second Mortgage Loan   • Debt Consolidation Loan
Home Equity Loan Store «Lowest interest rates on home equity loans, debt consolidation loans, and mortgage refinance loans with free quotes from multiple lenders»


Loan Options for Your Mortgage

There are many new types of loans available for financing your new home purchase.
Determine the length of the loan. You have a few options such as 15 years, 20 years or 30 years. There are even some circumstances when the loan can be set for 40 years. This is how long the lender sets for the term of the loan. A shorter length of the time will give you higher monthly payments, but less interest will be paid.
Decide on the type of mortgage. A fixed-rate mortgage is the most common with a fixed interest rate over the life of the loan. In the United States you have the option of a government insured FHA loans or a VA loan available to veterans who have served in the U.S. armed services.
Your typical loan payment includes interest and principal. With time, the principal is paid down.   Other factors affecting your payments might include the option to pay interest only for a certain period. This will allow you to make lower payments but doesn’t reduce the size of the loan.
A negative amortization loan allows you to pay less than interest-only. The shortage of the payments are added to your. This type of loan offers the lowest possible payment for a minimum number of years.
A hybrid loan is a type of loan where the terms are fixed for a certain period but payment options vary. A 30 year fixed loan that allows interest-only payments for the first 10 years is a hybrid loan.  An Option ARM mortgage loan is complicated. They are adjustable rate mortgages with the options of a payment and interest variety.
Piggyback or combo mortgages are first and second mortgages combined. Borrowers take out two loans if they have less than the 20% down.
Another type of special mortgage loan is the bridge/ swing loan.  With this type of loan the seller uses the equity in the first home to buy another home.
A Reverse Mortgage is available for anyone over the age of 62 who has enough equity in their home.  The lender makes the monthly payment to the borrower as long as they reside in the home.
Many mortgage loans come with a prepayment penalty. You must make this payment if your loan is repaid too quickly. If you have a prepayment penalty in the original loan you will have to pay a penalty according to the terms of the loan.
You may be allowed to cash out on the equity in your home. The value of your home rises over time allowing your use that equity for financial needs. Generally lenders won’t allow you to cash out until 6 months to a year after you purchase the home, no matter how much equity is built up.
 Many mortgage loans are available for real estate investors.  Using 100% financing for single-family homes gives the investor leverage. Lenders restrict the total number of properties an investor may finance.  By doing some research and asking questions, borrowers can find the financing that will fit their needs.

Author: This article is the property of LoanGuru.org and HomeEquityLoanStore.org – professional financial services with free quotes form multiple lenders: home equity loans, debt consolidation loans, mortgage refinance loans, and other types of loans for any individual’s financial needs.

Learn More about Home Loans:

• 6 Questions to Ask When Choosing a Home Equity Loan
• A Debt Consolidation Program To Relieve Debt
• Adjustable Rate Mortgages
• Advantages of a Home Equity Loan
• All about Mortgage Loan
• Anatomy of a Home Equity Loan
• Anatomy of a Mortgage
• Breaking Down Debt Consolidation
• Credit Card Debt Consolidation Loans
• Debt Consolidation
• Debt Consolidation Advantages
• Debt Consolidation Advice
• Debt Consolidation and its Advantages
• Debt Consolidation Benefits
• Debt Consolidation Benefits and Drawbacks
• Debt Consolidation Can Never Be a Mistake
• Debt Consolidation Companies
• Disadvantages of a Home Equity Loan
• Get Rid of All Your Loans with Debt Consolidation
• Home Equity Investments
• Home Equity Loan Is It an Advantage or a Disadvantage
• Home Equity Loans
• Home Equity Loans What Is It
• Home Equity Loans Explained
• Home Equity Loans for Bad Credit
• Home Equity Loans Have to be Carefully Sought
• How to Find the Right Mortgage
• Introduction to Mortgage
• Learn More about Mortgage Loans
• Loan Options for Your Mortgage
• Making the Perfect Judgment in Mortgage Refinancing
• Mortgage Details More Than Assurance
• Mortgage is a Very Harmless Loan
• Mortgage Refinance Calculator
• Mortgage Refinance Loans
• Mortgage Refinancing a Matter of Managing the Risk
• Procuring Home Equity Loans
• Repay Your Debts with Ease
• Something Special about Home Equity Loans
• There are Many Ways to Find Perfect Debt Consolidation Options
• There are Several Institutions Offering Mortgage Loans
• Tips on Home Equity Loans
• Types of Mortgages
• Understanding Debt Consolidation
• Understanding Mortgage
• Using the Equity in Your Home for Home Improvements
• What is Debt Consolidation
• While Opting for Home Equity Loans
    Lowest Rates Finder
Property State
Home Description
Select Your
Credit Profile
Type of Loan
    Home Loan - Free Quote

  Loans - Leases & Leasing - Personal Finance - Mortgage Refinance - Debt Consolidation - Debt Relief
© 2007 Home Equity Loan Store - Lowest Rates on Home Loans with Free Quotes from Multiple Lenders!