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  • A fixed-rate mortgage is a fully amortizing mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float".

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    A variable-rate mortgage, adjustable-rate mortgage, or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. The loan [...]

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    An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan which is provided by an FHA-approved lender.

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    Top 10 benefits 1. No down payment on a VA loan Most home loan programs require you to make at least a small down payment to buy a home. The VA home loan is an exception. Rather than paying 5, 10, 20 percent or more of the home’s purchase price[...]

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    USDA

    Mar

    13

    | Mortgages | admin

    USDA loans are zero-down-payment mortgages for rural and suburban homebuyers. ... USDA loans are issued through the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of [...]

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    One of the best-known loans for home improvements, Fannie Mae's HomeStyle Renovation Loan, allows borrowers to either buy a place that needs repairs or refinance their existing home loan to pay for improvements. ... You have to make a down payment of[...]

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    In the United States, a jumbo mortgage is a mortgage loan that may have high credit quality, but is in an amount above conventional conforming loan limits.

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    What Is Refinancing? Refinancing replaces an existing loan with a new loan that pays off the debt of the old loan. The new loan should have better terms or features that improve your finances.1 The details depend on the type of loan and your [...]

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