About Loans

I am in favor of fixed-rate, amortized 30-year loans because you know what you will pay.
If you expect your income to go up, you may be better off with an adjustable or interest-only loan.
Watch out for "teaser" rates that expire in few months, because you'll be paying much higher rates later.
And especially avoid negative amortization (because you're losing equity each month).

Generally, you'll get the best rates if you have a high FICO score and can put 20% down.
But there are first-time homebuyer programs that get lower interest rates and help you with the downpayment.

Mortgage Calculators

 

Loan Calculator # Years* Interest* % $ Borrowed $ Payment Leave out the $ Borrowed or the $ Payment and we will calculate it.

 

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