If you need assistance, please call 310-770-4121

Selecting the Right Mortgage for Your Needs

Tuesday, June 1, 2021   /   by Mitch Stein

Selecting the Right Mortgage for Your Needs

To select the mortgage that is right for you, shop around, compare your options, and get pre-qualified. Conventional and government backed mortgages are the two most popular types of mortgages. Conventional mortgages are offered with both fixed and adjustable rates with 15 and 30 year terms and typically require a down payment of at least 10%.
 
A fixed rate mortgage is exactly what it sounds like, a loan with an interest rate that does not change over the life of the mortgage. In an adjustable rate mortgage that is sometimes called a variable rate mortgage, you pay a lower interest rate initially but the rate can change over time.
 
Government backed mortgages are available with as little as 3.5% down and accept buyers with less than perfect credit. VA loans are also available to qualified US military veterans and are available with little or no money down.
 
Before you start your home search, talk to a mortgage lender to get pre-qualified. If you need help finding a lender or have any other real estate questions, please give us a call at 909-255-1070.

Mitchell Stein License# 0208163
Stein Team Realty - Keller Williams College Park
Mitchell Stein Dre# 02081632
2440 W Arrow Route #5C
Upland, CA 91786
310-770-4121
DRE# 01885348

Based on information from California Regional Multiple Listing Service, Inc. as of May 22, 2022. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
This site powered by CINC: www.cincpro.com