Today, many lenders offer special mortgage products for first-time buyers. To make purchasing a home easier and more affordable, these loans typically require minimal down payments and lower monthly payments initially.

Adjustable Rate Mortgages, or ARMS, feature an interest rate that is below market average in the first few years but may rise gradually after that period. Those who apply and qualify for VA mortgages (mortgages guaranteed by the department of Veterans Affairs) and FHA-insured mortgages (mortgages insured by the Federal Housing Administration), will also receive the benefit of below market interest rates and small down payments. Private mortgage insurance (PMI) can also help first-time buyers secure similarly favorable mortgage terms.

If you are interested in learning more about mortgages, I would be glad to provide you with additional information.

Best Regards,

christopher.pike@era.com

http://www.chrissellscolumbia.com/

www.yuwie.com/cmpike