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Mortgage Types
A mortgage is a method of using property as security for the payment
of debt.
Mortgage Loan programs come in many forms and from many
sources. The two basic types of amortized loans are the fixed rate mortgage
(FRM) and adjustable rate mortgage (ARM). Just as the loan structure, like a 30 year fixed rate mortgage, can
affect your interest rate and monthly payments, the source of funding for
your Mortgage Loan can also affect your rate and payments.
Mortgage Loan Lenders generally require minimum 3% of the loan
amount as a down payment. If you can affords 3%, you may consider the most
common type of mortgage loan, which called: ”Conventional Loan”. These
loans consist of conforming loans, which are secured by government-sponsored
entities such as
Fannie Mae and Freddie
Mac. If you need a “Jumbo” mortgage loan then you need to contact
to private investors or regular banks.
Fixed rate Mortgage (FRM)
Adjustable rate Mortgage (ARM)
Blanket Loan
Bridge Loan
budget loan
Commercial Loan
Deed of Trust
Equity Loan
Hard Money Loan
Package Loan
Participation Mortgage
Piggyback Loan
Reverse Mortgage
Repayment Mortgage
Seasoned Mortgage
Term Loan or Interest-only Loan
Wraparound Mortgage Loan
Negative Amortization Loan
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