In The News...
There were no major economic reports released today and the week's calendar is on the light side. The major Stock Indexes are trading lower as investors take some profits due to record high levels....
Fixed rate mortgages are desirable when rates are low or if they're expected to climb in the future. That's when you want to lock in a fixed rate. Adjustable rate mortgages start off at rates lower than the fixed market. Then over a few years they increase to market level. If you need a lower rate to qualify for a mortgage and you expect your income to grow, the adjustable rate might be just the ticket.
30-Year vs. 15-Year Mortgages
A 15 year mortgage will save you thousands of dollars in interest, but the trade off is much higher monthly payments. There are also tax implications.
No-Income Check Loans
If you are self employed and your income fluctuates, than a No-Income Check mortgage might be right for you. The rate will be higher but you'll be able to get the house you desire.
Ask Us About: 1st Time Buyer Programs Blemished Credit Land Loans PMI Options Construction Loans Jumbo Loans Bridge Loans Home Equity Loan/Lines And much more...
Americana Mortgage Group
1615 Northern Boulevard, Suite 404
Manhasset, NY 11030
Phone (516) 627-0200
Fax (516) 627-0229