West Jordan First Time Home Buyer Mortgage Loans

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Mortgage and Lending NMLS #: 134614

West Jordan First Time Home Buyer Mortgage Loans

First Time Home Buyer Mortgage Loans West Jordan, UT. West Jordan First Time Home Buyer Mortgage Loans. In this article, you will find the 3 most popular mortgages in West Jordan, Utah. West Jordan First Time Home Buyer Mortgage Loans has a more complete list of mortgage options.

The most popular West Jordan mortgage is the Conventional Fixed Rate Mortgage. The entire life of a Conventional Fixed Rate Mortgage (FRM) offers consistent interest rates and monthly payments that are stable. FRMs usually require a 20% down payment, but that's not always the case. FRM loan terms range from 10 to 40 years.

An Adjustable Rate Mortgage (or ARM) is the second most popular loan, and is a fluctuating loan. Which is fitting, considering the name 'adjustable rate'. This means that your interest rate will change as the market changes. So every year, your interest rate is recalculated. Since your interest rate changes, your monthly payments do, too. For the most part, interest rates are lower than what you'd expect to pay for a FRM, but if the market dictates, it can fly a little higher. If you want to learn more about Adjustable Rate Mortgages, click here.

The 3rd most popular loan is a FHA Mortgage Loan. FHA (Federal Housing Administration) Loans are insured by the federal government as a stamp of approval. These loans are most popular with people who can't pay 20% down. With an FHA Loan, you'd pay 3% down and have higher monthly payments.

These are the 3 most popular West Jordan First Time Home Buyer Mortgage Loans. But, they're not the only options out there. It's not easy to research and understand every mortgage option as a First Time Home Buyer. So, I will let you in on a little secret to help you out.... Work with a local lender who has the expertise and is trust-worthy.

Feel free to call or contact us anytime or visit our website at spencerstott.com.

West Jordan First Time Home Buyer Mortgage Loans

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Topic:
Mortgage / Finance
Location:
Utah Salt Lake County West Jordan
Groups:
Active Rain Newbies
Realtors®
Tags:
first time buyers
home loan
spencer stott
west jordan first time home buyer mortgage loans

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