Residential or commercial Mortgage loans
A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. The borrower (mortgagor) gives the lender (mortgagee) a lien on the property as collateral for the loan.
There are several different mortgage options. These flexible options will be determined by several factors.
- Loan Amount
- Home Equity
- First time home buyer
- Residental / Commercial
The different types of mortgage loans:
- Fixed Rate,
- One Year Adjustable,
- 10/1 Adjustable Rates,
- 3/3 and 3/1 Adjustable Rates,
- 5/25 and 5/5 and 5/1 Adjustable Rate Mortgages.