In the field of home financing, "hybrid" mortgages have grown in popularity with homebuyers. With interest rates gradually rising in today's market, the hybrid mortgage product saves money, provides a period of fixed-rate security and helps buyers qualify for financing.
Hybrid mortgage loans offer a very low fixed-rate for a period of time, usually from 5 to 7 years, then revert to an adjustable rate mortgage (ARM) for the remainder of the term of the loan. The interest rate is typically lower than with a 30-year fixed-rate loan, and the borrower has the assurance that the rate will not change for a period of years. Such a loan works well for buyers who plan on reselling the home within a finite period.
Other specialty mortgages now available include an ARM loan with a provision allowing it to be converted to a fixed-rate loan when that is a practical step for the borrower. Still others offer an interest-only loan that requires payments to be made on the interest only for a specified number of years, then reverts to an amortized loan with interest and principal payments each month. Consult with an experienced mortgage professional to determine whether one of these loan products will meet your needs.
Augie & Calla Bertao Bertao Real Estate Group 330 Tres Pinos Rd. Ste., F-2 Hollister, CA. 95023 License #:01821492 Office: 831-637-7253 Cell: 831-524-5400 Fax: 866-699-2372 Email: augieandcalla@bertao.com Email: wesellhollister@number1expert.com
Augie and Calla have served San Benito County since 1986. They are a full time husband and wife team with over thirty years of combined real estate experience. As consistent "Top Producers", specializing in single family residence and relocation services, Augie and Calla are committed to serving you with professionalism and excellence. Call us for our professional advice.
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