Success Training Institute Overcoming Mortgage Myths

Debunking Mortgage Myths – Borrowers Education

A 30-year fixed loan is the best option

Typically, when people hear the word “mortgage,” they think of a 30-year fixed loan. While this is the most common loan type, it is not necessarily the best for every buyer.

ARMs (adjustable rate mortgages) are great for home buyers who don’t plan to live in their home for a long period of time. While the interest rate can fluctuate — or adjust — after the first few years, depending on the type of ...

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First Time Home Buyers – Who Are They and How Will They Buy

While the role of first-time home borrowers hasn’t changed much over time—they are generally vacating rental housing to move into starter homes—the characteristics of these new home borrowers has definitely evolved. Today’s first-time home buyers are older, less likely to be married, and purchasing more expensive homes than they have in the past.

What does this mean for mortgage lenders when these new buyers are ready to purchase a home? By understanding what drives their decisions, you can be more prepared ...

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