FHA Loans: What You Need to Know Loan Types | If you’re curious about FHA home loans but don’t have the time to decipher the FHA handbook, you’re in the right place. In this guide, we’ll cover the benefits of FHA loans, the qualifying standards, how to get one, and how to apply. Purchase Refinance Learn More What Is an FHA Loan? An FHA loan is a type of mortgage that’s insured by the Federal Housing Administration (FHA). It’s a

30-Year Mortgage Fixed-Rate Loans Loan Types | In a real estate market full of ups and downs, there is plenty of comfort to be found in stability. Get that stability for decades to come by choosing a 30-year fixed-rate mortgage loan. Purchase Refinance Learn More Why Choose a 30-Year, Fixed-Rate Mortgage Loan? Unlike an adjustable-rate mortgage, where a mortgage’s annual percentage rate changes with the real estate market, a fixed-rate loan’s interest rate remains stable for the entire home loan

Understanding 15 Year Mortgage Rates Loan Types | Congratulations! You’re considering the purchase of a home, piece of real estate, or property, and now you’re wondering how to get started. Let’s take a moment to appreciate that you’ve reached this stage of your journey through life, and it’s a stage that should be celebrated and recognized. You have no doubt already done a little internet research. Like most homebuyers, you probably have a few questions. What does a typical interest

Adjustable Rates Loans Loan Types | The home buying process can be daunting to navigate, especially for first-time buyers or single families. As you work towards eventual homeownership, you will need to determine which type of loan will be best for you and your family. In this article, we will discuss Adjustable-Rate Mortgage loans (or ARM loans for short), what kind of homebuyers they are best for, common FAQs, and what other things you’ll need to evaluate if you are

Jumbo Loans: What You Need To Know Loan Types | Congratulations homebuyer, you’re looking for a home loan! One of the most important steps in the home buying process is determining what type of mortgage loan you need to become a homeowner successfully. There are conventional loans, adjustable-rate loans, FHA loans, and even jumbo loans or non-conforming loans. Picture this: you find your dream house. But, in order to follow through with your home purchase, you need a larger loan.

Conventional Loans Loan Types | In the process of becoming a homeowner? Then you already know the value—both figuratively and literally—of a good loan. But with so many different kinds of loans to choose from, it can be hard to decide which one is best for your financial situation. By far the most popular type of residential loan in the United States is the conventional loan. Here is how this loan could help you realize your dream of owning a

Line of Credit Loans: What Decision is Best for your Finances? Loan Types | When it comes to personal financial decisions, the solution is never one-size-fits-all. For example, there are multiple types of loans that a borrower could use for many different reasons. There are student loans, automobile loans, debt consolidation loans, and of course, mortgage loans. When it comes to home loan options, there are also multiple potential avenues for a homebuyer or homeowner to explore, including conforming loans,

Interest-Only Mortgages: What You Need To Know Loan Types | If you’re a potential homebuyer, this is an exciting time in your life! Between navigating the pros and cons of potential homeownership, and learning all you can about home loans and what to expect, costs can add up quickly before you even realize it. Enter: interest-only mortgage payments. Simply put, an interest-only mortgage payment is when the borrower only pays interest on their monthly payments for the first several years

Understanding Debt Consolidation Loans Loan Types | Debt is an interesting word. For most, debt can create a varying degree of stress; monthly payments, auto loans, student loans, personal loans (including unsecured personal loans), credit card debt, medical bills, loan payments…these are all types of debt that add up to the monthly equation of money coming in and money going out of your bank account. And those are just a few examples! The good news is that, if you are in debt, you’re not alone. By some estimates, almost 4 out

What is a Reverse Mortgage? Learn more about a reverse mortgage by watching the video below, then contact our team to discuss how a reverse mortgage can work for you! https://delmarmortgage.com/wp-content/uploads/2022/11/Reverse-Mortgage-Animation-110422.mp4 If you are a homeowner, at least 62-years of age and looking to free up monthly cash flow, a reverse mortgage may be the perfect option for you. Leverage your home equity and be paid to stay in the home you love, use those funds to purchase a new

VA Loans 101: How They Work, Who’s Eligible, Advantages and More Loan Types | If you’re a military service member, qualifying spouse, or veteran, VA loans are a huge benefit worth exploring if you’re considering buying a house. This special type of home loan can help you secure an affordable mortgage with a competitive interest rate and (usually) no down payment—even if your credit score isn’t stellar. VA loans are an ideal resource for many military members, but they do have