For most people, the mortgage world can be a confusing place but once you understand how it works, you’ll know which one would be best for you. Every mortgage has variables that determine how much a borrower ends up paying. Most people simply want a good deal and not all who want to purchase a home has a 20% down payment socked away in the bank. Mortgage comparisons can be tough and a little knowledge on this can go a long way toward getting the right mortgage at a great price. There are mortgage options available that require less cash upfront and can help you become a homeowner.
The common type of mortgage that most buyers choose is called a fixed-rate mortgage. As the name suggests, the interest rate on a fixed-rate loan stays the same for the entire term. Fixed rate mortgage terms are usually 15 and 30 years. However, you’ll also find 10, 20, 40, and even 50-year fixed-rate mortgages. One benefit of getting a shorter mortgage is that you pay less total interest over the life of the loan than with a longer one. Many people go for longer mortgages as they reduce the monthly payment, which can make buying a home more affordable.
Another type is the Adjustable-Rate Mortgage that might also be referred to as a variable-rate mortgage. With an adjustable mortgage, the interest rate and your monthly payment can go up or down on a predetermined basis. Most Adjustable rate mortgages are actually both fixed and adjustable. They start off with a fixed-rate for a set amount of time and then convert to an adjustable rate. Since adjustable mortgages are more unpredictable and risky than fixed-rate mortgages, they offer a much lower interest rate in the beginning, which can help a buyer qualify for a more expensive home.
Are you ready to take the next steps towards purchasing your new home? Contact the professionals at the Bandy Team for a no-obligation consultation. Whether buying or selling a Denver home, if you’re interested in Denver Real Estate , we can show you some terrific homes for sale in Denver.
Our trusted professionals will be there to help you every step of the way!
Until next time,
Marianne Bandy, Team Leader
The Bandy Team
Keller Williams Park Meadows
DenverHomeSearcher.com
720-466-3790
Marianne is a professional LDS Realtor in Denver with outstanding integrity, who takes the time to understand your specific housing and family needs. She is the team leader of one of the top selling Real Estate Teams in her broker's office. She understands that a big part of your family's happiness depends on the home and community where you live. LDS Realtor in Denver Colorado
One of Marianne’s greatest passions is helping people with their Real Estate transactions, typically one of the largest financial transactions they will undertake. Marianne is the listing agent for the team but also loves working with Latter Day Saint home buyers as well. Marianne uses her expertise and market knowledge so that her clients get the most accurate and up to date information possible. Marianne has a breadth of experience working with clients through all aspects of closing on a home. When listing homes for sale, this includes readying the home for sale, developing a marketing strategy, getting feedback on showings, negotiating inspection items, and many other details that lead up to a successful closing.
Marianne is excellent at contract negotiations and looking out for the best interests of her clients. She has obtained the Certified Negotiation Expert (CNE) certification. When helping Buyers, she loves the feeling of helping families connect with the right home in the right community. She also has knowledge of ward and stake boundaries, meeting house locations, youth programs, drive time to the LDS Denver temple, and seminary locations for your high school children.
If you’re looking for solid results and a WOW! experience, then call Marianne and put her to work for you. In the last two years, the Bandy Team sold 125 homes. The Bandy Team has the experience and proven systems you need to make your transaction as smooth and worry-free as possible.
The Bandy Team is committed to conducting business with the utmost integrity. The team was formed on the principles of honesty and loyalty with clients. Marianne believes in surrounding herself with good people that share her values. This includes good business partners that can aid in all aspects of a real estate transaction, including home inspections, loans, transaction coordination, home repairs, etc. Marianne and her entire team are committed to the highest levels of customer service for their clients.
Who you work with Matters!
LDS Real Estate Agent in Denver Colorado
http://www.BandyHomes.com
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