Home Buying for Dummies | MORTGAGE #1556
Home Buying for Dummies.
Part II: Financing 101. Chapter 6: Selecting a Mortgage.
Fixed or Adjustable? That Is the Interest(ing) Question.
Distinguishing fi xed-rate mortgages from adjustables.
Looking at hybrid loans.
Starting out risky: Interest-only mortgages.
Making the fi xed/adjustable decision.
Deciding on your loan’s life: 15 years or 30?
Finding a Fixed-Rate Mortgage.
The all-important interest rate.
The fi ner points of points.
Other lender fees.
Arriving at the Absolute Best Adjustable.
Where an ARM’s interest rate comes from.
How often does the interest rate adjust?
Limits on interest-rate adjustments.
Locating the Best, Lowest-Cost Lenders.
Shopping on your own.
Working with a mortgage broker.