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Financing Your Home >Hybrids Offer Low Rates 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.
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What is the busiest airport in the world?
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According to the Airports Council International, the Hartsfield International Airport in Atlanta, Georgia is currently the busiest airport in the world, serving 76.87 million passengers per year. |
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Mike Lombardo
C21 Sunbelt
506 SW 47th Terrace
Cape Coral, FL 33914
English: 239-898-3445
Español: 239-898-3795
Fax: 239-443-2473
Mike@mikelombardoteam.com
I am selling property and I want to sell yours. You may have been told that the real estate news in our area is gloom and doom. “I have heard there is a recession, but I have decided not to participate.” I want you to know that I am selling and I want to help you sell your home. Call me or email me at (239) 898-3445 or Mike@MikeLombardoTeam.com   
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