Susan Gilbert
Executive Associate
Realty Executives
25211 Grogans Mill Road
Suite 190
The Woodlands, Texas 77380
(281) 932-4306 Direct
(281) 356-5536 Home Office
(281) 259-8741 Fax
www.susangilbertrealtor.com
www.texaslegacyproperties.com
All information is deemed reliable, but is not guaranteed and should be independently verified. Information on this website may not be copies for any commercial use without written permission from Susan Gilbert, Realty Executives The Woodlands-Spring.
Variable or Adjustable-Rate Real Estate Mortgage
With an adjustable rate mortgage, the rate of the loan can change throughout the term of the loan. Many ARMs have a short fixed period and then become truly adjustable. The rate of the loan is based on adding points to a fixed base.
Fixed-rate mortgages
Fixed rate mortgages are mortgages where the interest rate stays the same for the entire term of the loan. The advantage to a fixed rate mortgage is that if you lock a relatively low rate, your payment won't go up when rates do.
Hybrid loans
A hybrid loan combines a fixed period along with an adjustable component. Usually these loans are fixed for a period of time and then the loan becomes adjustable where it is dependant on current rates.
Balloon Real Estate Loan
A balloon loan is a real estate loan where there is a lump sum due at the end of the loan. This normally encourages an individual to refinance prior to the end of the term of the loan.
Jumbo Real Estate Loans
A jumbo loan is any residential or commercial loan exceeding the guidelines of Fannie Mae and Freddie Mac.
FHA Real Estate Loans
An FHA loan is a loan in the United States that is insured by the Federal Housing Administration.
VA Real Estate Loans
A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA was designed to offer long-term financing to American Veterans or to their surviving spouses
Getting the right type of real estate home loan is an important part of the home buying process. In this section of Susan Gilbert's web site...Susan has put together some basic information regarding the types of real estate home loans that are common in the market today.
Getting an idea as to the price of the home (whether new construction ... whether building ... or residential resale) you can afford is an important first step in the home buying process. By understanding the price range you can afford, you can look for real estate in the appropriate areas and really find the ideal home for you. By working with me, together we can determine what the right home for you would be! EMAIL SUSAN TODAY AND GET STARTED MAKING THE RIGHT DECISIONS ON YOUR HOME PURCHASE PROCESS!
In order to help you with your next home purchase, Susan has put together a simple review of some of the major mortgage programs:
