If you plan to sell your house in Merrick, know that everyone that could show interest in
purchasing your home is different. Each person has their own financial situations and needs
that will need to be accommodated. That’s why there are various mortgage loans that could be
utilized!
So, if you are to sell your house in Merrick, know that there are many mortgage loans that
could be chosen by your potential buyers. Are you aware of what the top ones are?
We understand just how important it is to choose the right mortgage loan! That’s why, here at
Kim Holland Homes, and Massapequa realtors, we have gathered some of the top options, to
assist you with selecting the right one. If you would like to learn what some of these loans are,
be sure to read on:
● 30-Year Fixed-Rate. A 30-Year Fixed-Rate mortgage is best for home buyers who are
seeking lower monthly payments, as the payments will be stretched out over a long
period of time. In addition, the fixed rate means that your interest rate never changes,
and also presents you with the flexibility to repay the loan faster by adding to the
monthly payments, if you would like.
● 15-Year Fixed-Rate. A great way to build equity, lower interest rate and pay off the loan
faster would be by choosing a 15-Year Fixed-Rate mortgage. Just as a 30-Year Fixed-Rate
mortgage, know that the payments are predictable, as the interest rate won’t change.
Also, because the borrower will pay interest for less years, the total interest payments
will be less.
● Adjustable-Rate. An Adjustable-Rate mortgage is ideal for home buyers who do not plan
on having a mortgage for a long period of time, or who would like to have lower interest
rates in the future. This mortgage has an initial rate that is fixed for a specific period of
time, and then will be adjusted periodically.
● Federal Housing Administration. An FHA mortgage is administered by the Federal
Housing Administration and backed by the government. Overall, they are designed to
help more modest borrowers purchase homes. FHA mortgages also work for people
with lower credit scores. In addition, down payments less than 20%.
● Veterans Affairs. If you are a military service member or veteran, you could qualify for a
VA loan, which is a mortgage backed up by the Department of Veterans Affairs. VA
mortgages do not require large or any down payments or mortgage insurance, and they
present low interest rates.
Selecting the best mortgage is certainly of importance! These are just a few of the top ones that
your potential buyers could select if you are to sell your house in Merrick.
Are you ready to begin the process of selling your own home with a realtor in Massapequa,
New York? If so, please contact us here at Kim Holland Homes, as we would be pleased with the
opportunity to be your realtor!
