Getting the right type of real estate home loan is an important part of the home buying process. In this section of my web site I have put together some basic information regarding the types of real estate home loans that are common in the market today.
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.
Adjustable-Rate Mortgages With an adjustable rate mortgage, the rate of the loan can change throughout the term of the loan. The rate of the loan is based on adding points to a fixed base.
real
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.
FHA real estate home loans An FHA loan is a loan in the United States that is insured by the Federal Housing Administration.
VA real estate home 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, with no downpayment.
There are other loan programs available for Texas veterans, as well as downpayment assistance, if needed.
Being a retired U.S. Air Force veteran with more than 23 years, and a real estate professional in the San Antonio market place for more than 19 years, I understand the trails and frustrations military, and DOD civilian families endure when relocating. You need someone you can trust to get your real estate transaction done timely and correctly. Just pick up the phone, call 210-260-3398 and Talk2Willie, or email me @ HomesByWillie@Gmail.com.
