In order to help you with your next home purchase, I have put together a simple review of some of the most common mortgage programs.

Variable or adjustable-rate mortgage
With an adjustable rate mortgage, the rate of the loan can change throughout the term of the loan. The rate of the loan is based on adding points to a fixed base.

Fixed-rate mortgage
Fixed-rate mortgages are mortgages in which the interest rate remains the same for the entire term of the loan. The advantage to a fixed-rate mortgage is that if you lock in a relatively low rate, your payment won't go up as rates do.

Hybrid loans A hybrid loan combines a fixed period with an adjustable component. Usually these loans are fixed for a period of time after which the loan becomes adjustable and is dependent on current rates.

Balloon loan
A balloon loan is a real estate loan where there is a lump sum due at the end of the loan. This normally encourages an individual to refinance prior to the end of the term of the loan.

Jumbo loan
A jumbo loan is any residential or commercial loan exceeding the guidelines of Fannie Mae and Freddie Mac.

FHA Real Estate Loans
An FHA loan is a loan insured by the United States Federal Housing Administration.

VA Real Estate Loans
A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan is issued by qualified lenders and was designed to offer long-term financing to American Veterans or their surviving spouses.

In order to answer your help assist you with any of your mortgage needs, I have provided you with this simple form. This form will help me assist you with any of your real estate or home financing needs. Thanks again for visiting and please note that your information will be kept strictly confidential. If you have other real estate needs here in Sugar Land, Missouri City, Richmond, Houston, Stafford, Katy, and surrounding Fort Bend County, TX areas, be sure to contact me today.

Do you need additional information regarding getting home financing and real estate mortgage services in Sugar Land, Missouri City, Richmond, Houston, Stafford, Katy or in any other surrounding Fort Bend County, [STATE] area? Please fill out the following short real estate mortgage information request form. All inquiries will be responded to in a timely fashion and your information will be kept strictly confidential.