Loans
Here are a few things to consider before choosing which mortgage is right for you.
- Where do you fit and why?
- Are you a saver or a spender?
- Do you need a retirement fund?
- How long do you intend on living in this house?
- Do you plan on refinancing in a few years, if so why would you refinance?
- Is this just an investment property?
- Is this a second home?
- Do I need to lower my total monthly payments?.
Fixed Mortgages
- You plan on paying for your home for the next 30
- You don't plan on moving or refinancing in the next 20 to 30 years
- If you aren't going to refinance in the next 10 to 20 years
- You need piece of mind
- Have little or no willpower to save
Adjustable Rate Mortgages
- Will only be in this house for a few years (1 through 15 years)
- Need a little extra money a month
- Want to pay off your home earlier with out paying to much extra
- Want to have a few extra dollars a month to save or invest
- Will be refinancing in the next 5 to 15 years (Save money every month before you do!)
Negative Amortization Mortgages
- During first years of loan you can pay off bills to lower overall monthly payments
- Gives freedom to invest or save while spending same as a 30 year fixed mortgage
- Different payment options give you the power to choose what to pay each month
Interest Only Mortgages
- Freedom to invest saved money under a 30 year fixed mortgage
- With a solid investment plan home can be paid for sooner than 30 years
- With an aggressive investment plan home paid and retirement added too!
- Principle payments can deduct monthly minimum interest payments
- Great for buying and selling because monthly payment is lower
You deserve a home to call your own. Sign up and we will help you find the correct choice.
Loans are a key ingredient to effective credit repair. More often than not, we find that our new members are stuck with loans that can be renegotiated, or even replaced with a new loan that better fits their needs. Learn more about loan types and how Academy Credit can help you find the right loan for you by following the informative links below.
Loans Overview
What are the different types of mortgage loans?
What type of mortgage is best for me?
What do I need in order to get a mortgage loan?
Mortgage loan terms and definitions.
How does my credit score affect my mortgage?
Free Newsletter
Get a sneak peek at one of the many benefits of membership. Sign up to receive our free information newsletter. There are no strings attached and you can easily unsubscribe at any time.
