Sponsored by: PrimeLending Are you ready to get into the home buying market, but confused about how to finance it? "There are numerous options out there," says Darlene Shackelford of the PrimeLending office in North Charleston, "so it’s helpful to be educated about all the choices." Below are 5 broad types of mortgages for any homebuyer to consider. 1. 30-year fixed rate mortgage The standard, vanilla 30-year fixed rate mortgage … Read More
Almost everyone who buys a home finances the purchase with a mortgage. Mortgages allow people with ordinary incomes to secure home ownership by spreading the payments over a long period – typically 15 or 30 years. As with any large loan, lenders require evidence that the borrower will be able to meet its terms and pay the principal and interest. “The process of qualifying, and the various options available to … Read More
There are many options for financing a home purchase, but if you're a veteran, active military or reserve member, a Veterans Administration home loan can be one of the best benefits of a military career.The VA guarantees a portion of the mortgage, allowing private lenders to lend with greater confidence. The requirements and provisions of the VA home loan system are complex, and can confuse borrowers and lenders alike.So here … Read More