If you are looking to purchase a new home, there are a lot of exciting things to consider like what your new home will look like. Less exciting for most people is considering what their new mortgage will look like. But if you are getting ready to purchase a new home, it is important for you to know that you have options when it comes to your mortgage, and for you to understand what each of those options are.
The Type Of Loan
Before you even start looking at the specific details of a mortgage loan offer, you must determine which type of mortgage loan is going to be right for you. There are many different types of mortgage loans available, including:
- FHA Loans FHA loans are federally insured by the Federal Housing Administration. These loans offer a down payment as low as 3.5% and