There are lots of different types of mortgages…the most popular  is a fixed-rate mortgage.

• A fixed-rate mortgage has a fixed interest rate for the entire term of the loan.

• The interest rate is determined at the loan's origination.

• The loan payment amounts will stay the same for the life of the loan.  

• They will NOT fluctuate with interest rate movements.

Lenders offer 50, 30, 20, and 10-year fixed loans. The most popular are the 30 and 15 year fixed loan.

A 30-year fixed loan amortizes over thirty years, the majority of early payments going toward interest, later payments go mostly toward the principal.

A 15-year fixed loan amortizes over fifteen years, significantly reducing the amount of interest paid on the loan.

Understand and measure risks of ALL different types of mortgages BEFORE you choose!

Barry Rabinovitz           Helping Buyers & Sellers just like YOU for nearly 30 years!!               Angela Ponte

                                                       Classic Homes Real Estate (617) 328 5800

Save $5,000 Guaranteed on Your next South Shore Home, Guaranteed!

Learn more!   No Cost, No Obligation!

Visit http://www.classichomesre.com/gc_buyersguarantee.asp

Or Call Barry & Angela @ (617) 328 5800 (Phone icon) and Start Packing!)