What's your mortgage need?To pick the best mortgage, then, you’ll need to understand your options. Typically, a mortgage will consist of two parts: the principal sum (the amount borrowed) and interest (the cost of borrowing that money). In general, the best plan is to minimize the amount of [...]
2/1 Buy Down Mortgage The 2/1 Buy Down Mortgage allows the borrower to qualify at below market rates so they can borrow more. The initial starting interest rate increases by 1% at the end of the first year and adjusts again by another 1% at the end of the second year. It then remains at a fixed [...]