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home affordability: What type of Mortgage is Best? - 05/24/11 02:01 AM
A mortgage is a loan where the house and land are used as collateral for the loan. If the borrower fails to make his payments, the bank forecloses on that property. In the case of foreclosure, the bank may sell the house to clear the mortgage debt.
Here are some types of mortgages can help first-time home buyers understand the fundamentals:
Conventional Mortgage – this is a mortgage loan wherein the underlying terms and conditions meet the guidelines of Fannie Mae and Freddie Mac. Depending on market conditions and consumer trends, about 35-50 % of mortgages are conventional mortgage.
FHA Mortgage … (1 comments)

home affordability: What It Means to Be Able to Afford a Home - 04/14/11 02:17 AM
The three basic factors affecting your ability to afford a home are 1) the price of the home, 2) how much cash will be required, and 3) the monthly mortgage payment on the loan. As you may suspect, the three are tied together so that when one factor changes, so do the other two. Each is limited by your personal and financial situation and influenced by conditions in the market. Nevertheless, it is possible, with a little research and homework to make estimates of these factors sufficient to give you a good indication of whether you can afford to purchase a … (1 comments)

 
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Stephen Katz

Atlanta, GA

More about me…

Katz Mortgage Team, a branch of VanDyk Mortgage Corporation

Address: 800 Johnson Ferry Road, Atlanta, GA, 30342

Office Phone: (866) 742-8400

Cell Phone: (770) 552-1000

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