5 Quick Tips About Home Loans
Very few people can afford to purchase a home without the help of a mortgage loan, so get ting a home loan is often one of the biggest components of buying a home at the Lake of the Ozarks . The type of loan your qualify for and the size of the loan you can be approved for are largely responsible for dictating which home you will be able to buy. Gattermeir Davidson Real Estate is here to help you simplify the process with these five quick tips about home loans. 1. Loans Are Not "One Size Fits All" Home loans come in many different shapes and sizes. Some loans have fixed interest rates, some have adjustable rates. Some loans require a minimum 5% down payment, others require more or less. Most home loans span thirty years, but others only cover fifteen or twenty years. An experienced mortgage lender will be able to help you determine which type of loan will be best suited for you and your needs. 2. Loan Amounts Depend Greatly On Your Credit Score Your credit report i