A Guide to a Great Mortgage Plan

Written by Family Magazine. Posted in Fha mortgage loans, Rural development usda loan, Vacation home

The process of buying a home is no easy process and can bring about plenty of stress for American citizens. However, this is still a very important point in many peoples lives. As a result, some people look into putting together a mortgage plan with a mortgage broker to set up a financed home.

A recent survey has revealed that within the next two years, nearly 31% of all millennials are trying to buy a home. However, these younger millennials may have a harder time paying for the house the same way previous generations have gone about it. Keep in mind that the average price for a house in the United States was $186 in March of 2016. Therefore, it makes sense to receive some type of help from a mortgage plan.

Get Help From A Trusted Mortgage Expert

Just about 14% of all home buyers in 2016 decided to finance their entire house purchase with a mortgage. This means that 100% of their home’s payment came in the form of a mortgage plan. Therefore, anyone th


Understanding Your Mortgage Plan Options

Written by Family Magazine. Posted in Mortgage plan, Vacation home

Mortgage planning

Navigating the home buying process can sometimes feel like you are listening to a different language. The terms and conditions that your lender and agent explain to you can be confusing and overwhelming. Yet, the type of mortgage that you choose is extremely important. Each of the different types of mortgages has different terms and conditions. They require different down payment and closing amounts. Finally, the approval qualifications also differ between each type of mortgage plan offered.

Conventional mortgage

A conventional mortgage plan is considered to be your traditional type of mortgage. It is the most generic of mortgage plan options. The conventional mortgage normally has a standard minimum 20% down payment requirement. You may