Getting the right type of home loan is an important part of the home buying process. Here is some basic information regarding home loans common in the market today.

Fixed-rate mortgages Fixed rate mortgages are mortgages in which the interest rate stays 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 when rates do.

Adjustable-rate mortgages 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.

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 where it is dependent on current rates.

FHA real estate home loans An FHA loan is a loan insured by the Federal Housing Administration.

VA real estate home 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.

If you’d like to receive more information about more specific Sugar Land real estate and properties for sale loan programs in Sugar Land, Missouri City, Richmond, Houston, Stafford, Katy and surrounding Fort Bend County, TX areas, then please fill out the following form below or contact me today