The many different types of home loans available can seem overwhelming. Should you choose a fixed rate, adjustable rate or government loan mortgage? The truth is there is no right answer. Choosing a loan type is an important decision that is best made after you have researched your options. Remember, taking the time to explore your options now can mean saving thousands of dollars in the long run.
Ask yourself the following questions to determine what loan type is right for you:
A professional lender is the best resource available to help you decide which loan best fits your needs. Follow the general guidelines outlined below to get started selecting the best mortgage for your home.
|How many years do you plan to stay in your home?||Plan(s) to Consider|
|1-3||3/1 ARM or 1-year ARM|
|7-10||10/1 ARM or 30-year fixed|
|10+||30-year fixed or 15-year fixed|
All loan approvals are conditional, not guaranteed and subject to lender review of all information. Loan is conditionally approved when lender has issued approval in writing, but until all conditions are met, loan cannot be funded. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender. In California, This licensee is performing acts for which a real estate license is required. C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025; NMLS # 135622. For state licensing information outside of California, click here. C2 Financial Corporation is approved to originate VA and FHA loans, and has the ability to broker such loans to VA and FHA approved lenders. C2 Financial Corporation is not acting on behalf of or at the direction of HUD/FHA or the VA.