What kind of loan program is best for you?
Should you get a fixed-rate or adjustable-rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer.
The traditional fixed-rate mortgage is the most common type of loan option and includes monthly payments covering both principal and interest, which never change during the loan’s lifetime.
Adjustable-rate mortgages include interest payments that shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.
A jumbo loan, also known as a jumbo mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA). Unlike conventional mortgages, a jumbo loan is not eligible to be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac.
FHA home loans are mortgages that are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
VA loans are mortgages guaranteed by the Department of Veterans Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of homeownership.
Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.
The Zeigler Team
8872 S Eastern Ave Suite 280 Las Vegas, NV 89123
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