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The Different Types of Mortgages

mortgage, southlake real estate, the residential groupPurchasing real estate can be very expensive, so there’s a good chance you will need to obtain a mortgage in order to do it. The Residential Group Inc can help you apply for a mortgage in Southlake so that you can buy the property that you want.

When applying for mortgages to purchase real estate, you will find that there are several different types of them. For those who qualify, government-backed loans like FHA and VA loans offer very attractive interest rates and low down payments. Adjustable rate mortgages, also called ARMs, are ideal for those who only plan to stay in a home for 10 years or less. Meanwhile, fixed rate mortgages are best for those homeowners who plan on staying in their home for a long period of time. When you work with The Residential Group Inc, we will speak with you about all of these mortgages and assist you with picking out the one that works best for your specific situation.

Categories: Mortgages