What is the best basic loan to acquire when searching for your first home loan based on a 2 income family of four?
Answers | 1
August 14, 2015
There are many different philosophies out there, but probably the most common is a 30Y fixed rate loan. It truly is the most 'basic' as your question points out, because the rate is fixed for the full 30 years and you know exactly how much your payment will be each month. There are many other loan products available but each buyer needs to consider their own individual situation (time spent in the home, income, retirement planning, other expenses, etc.). Hope that helps!
Asked by Brady
Answered by Brian Howell
Mortgage Professional in Castle Rock, CO
No Brady it usually isn't. I would recommend sending two separate checks for $100...
Asked by MORE DIOP
Asked by donna
Answered by David Skow
Mortgage Professional in Seattle , WA
Thanks for your post .....your best 1st step will be to get a loan pre approval ...