Key Questions to Ask Yourself and Lenders When Shopping for a Mortgage!
You are wondering which kind of mortgage is best. The answer: There is no one correct answer. Deciding which type of mortgage will best fulfill your needs can be difficult. There are so many types of loans and different term lengths. Your choice is extremely important and can take some time and effort to research. While often neglected by home-buyers, a little research before choosing your mortgage can save you thousands of dollars in the long run. There are several elements of a loan that should be analyzed. While one of these elements may suggest one type of loan, another may call for a different type. You must weigh each ingredient separately and collectively. You will find that your answers to the questions below will ultimately determine the type of mortgage that best fit your needs.
How long do you plan to stay in this home?
Five years? Ten years? Thirty years?
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