Saturday, October 20, 2018
 Buying  |  Selling  |  Financing  |  Relocating  |  Homeowning  |  First-Time Buyer 

Refer A Friend

Randi F. Rainmaker
CLHMS, GRI, ABR, CCIM, ePro, EcoBroker
Gooder Group
2724 Dorr Ave, Ste 103
Fairfax, Virginia 22031

Office: 703-698-7750
E-mail Me
Visit My Website
Hottest New Listings!
Exclusively ZIP 20902
Search All Homes
Featured Properties

Quick Checklist For Finding The Perfect Home
4 Smart Strategies For Purchasing Your Next Home
Secrets To An Easy Contract Closing

Select FAQ of Interest
Everything You Need To Know About Real Estate

There are so many types of mortgage loans available today, how do I know which one is best for me?

Whispering Behind Closed Doors Ever feel like there's a world of financing information that's hidden away? Confused about which loan type is best for you? Personal situations vary, and only a qualified lender can give you full details. But we can help open the door to financing solutions, and to your new home. Here's some info on common mortgage types:

30-Year Fixed
  • Fixed monthly payments over the life of the loan.
  • Low risk.

  • CON:
  • Higher initial interest rates than adjustable loans mean the borrower may pay more interest charges over the life of the loan, depending on whether rates on adjustable mortgages go up or down
20-Year Fixed
  • Faster equity buildup than a 30-year mortgage.
  • Interest rate often the same or slightly lower than 30-year fixed.

  • CON:
  • Monthly payments are higher than a 30-year fixed loan.
15-Year Fixed
  • Shorter term provides substantial interest savings over 30-year fixed.
  • Often a lower interest rate than 30-year loans.

  • CON:
  • Monthly payments will be higher than a 30-year fixed loan, making 15-year loans difficult for many first-time buyers.
Adjustable Rate (ARM)
  • Starts out at lowest interest rate, then adjusts every 1, 3, or 5 years. Good for first-time buyers who might not have income to qualify for another loan.

  • CON:
  • Depending on market conditions, the loan adjustments can mean increased rates down the road.
More Help For Buying


Tip of Week

Quote of Week


Search all the homes for sale in our area.

Become a VIP buyer or seller. Beat your competition to the best properties in today's market. No cost, no obligation.
FREE Electronic Real Estate Reports:
These reports can help save you thousands, delivered free to your inbox.
SEARCH Quick Checklist For Finding The Perfect Home
MOVE UP 4 Smart Strategies For Purchasing Your Next Home
SETTLEMENT Secrets To An Easy Contract Closing
LOCATION The Most Important Questions Every Buyer Should Ask
FIRST TIME How To Buy The Most Home For Your Money
NEGOTIATE How To Buy The Home You Love At The Price You Want
HEALTHY HOMES The Top 10 House Maladies To Avoid
PLAY SMART Savvy Tips On Buying A Vacation Home
TIRE KICKING Secret Tests To Check A Propertyís Condition
INVEST YOUR RENT Why Pay Your Landlordís Mortgage
Home  |  Information Center  |  Ask Us
Buying   |  Selling   |  Financing   |  Relocating   |  Homeowning   |  First-Time Buyer
Copyright 2018, Gooder Group.
Absolutely no part of this page may be reproduced or distributed without written permission.
All rights reserved by Gooder Group, Gaithersburg, MD, (703) 698-7750.