Journeying To The Ideal Mortgage
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Ajeet Khurana
May 8, 2013, 9:25:03 AM5/8/13
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Ajeet Khurana
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Article Title: Journeying To The Ideal Mortgage
Author: Ajeet Khurana
Word Count: 440
Article URL: http://www.isnare.com/?aid=154801&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=154801
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If you are on your pick to get a mortgage, let me tell you that it won't be easy. The task is further compounded these days by the sheer variety of mortgage options available in the financial markets. What is the best way to zoom in on that perfect mortgage?
The most basic mortgage loan is the thirty-year fixed rate mortgage. This removes the insecurity that may be prevalent in other types of mortgages, by offering a fixed term and a fixed rate of interest.
Another kind of mortgage is the one-year adjustable rate mortgage. This type of mortgage is also one of thirty years. But in this case, the rate of interest changes annually based on the index that your loan uses.
These two basic mortgage types are combined in different ways. Some loans fix the rate of interest for periods of three or five years, and then the rate is allowed to change.
There are still other mortgage options that permit you to make up your mind as to your mode of payment. So you could pay back the entire amount in one go, or you could make more than a single payment, or even just pay the interest for that month. These mortgage options, if used wisely, will result in a good deal of savings. However, if for instance, you make a habit of paying only the interest amount, it could spiral into a lot more expense than you had originally bargained for.
So even while looking at the various kinds of mortgages, assure yourself that you find a mortgage that meets all your specific requirements. When comparing mortgages, decide what are the issues that are important to you. Would you prefer a unchanging rate of interest or would you like to avail of market conditions where the rates drop for a while? Are you looking to pay off the loan in one shot or would you rather repay it in small installments, over a long period of time?
Try looking for mortgage loans that offer you an interest cap so that even if the interest rates are allowed to alternate, they will never go beyond your reach. If you are a person with an unstable income, you could consider taking up an adjustable rate mortgage which allows you to decide to pay whatever amount you deem fit at that time. This is a risky option to go for, but is very suitable for a person with an unstable income.
The mortgage loan seeker is spoilt for choice today. Make a wise selection.
About The Author: The author Ajeet Khurana recommends Mortgage at http://www.1mortgagesuk.co.uk/ Mortgages at http://www.1mortgagesuk.co.uk/ and Loans and Leases at http://www.loanleases.com/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=154801
*********************** ARTICLE END ***********************
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Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Ajeet Khurana
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=154801
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=154801
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Journeying To The Ideal Mortgage
Author: Ajeet Khurana
Word Count: 440
Article URL: http://www.isnare.com/?aid=154801&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=154801
Easy Publish Tool: http://www.isnare.com/html.php?aid=154801
*********************** ARTICLE START ***********************
If you are on your pick to get a mortgage, let me tell you that it won't be easy. The task is further compounded these days by the sheer variety of mortgage options available in the financial markets. What is the best way to zoom in on that perfect mortgage?
The most basic mortgage loan is the thirty-year fixed rate mortgage. This removes the insecurity that may be prevalent in other types of mortgages, by offering a fixed term and a fixed rate of interest.
Another kind of mortgage is the one-year adjustable rate mortgage. This type of mortgage is also one of thirty years. But in this case, the rate of interest changes annually based on the index that your loan uses.
These two basic mortgage types are combined in different ways. Some loans fix the rate of interest for periods of three or five years, and then the rate is allowed to change.
There are still other mortgage options that permit you to make up your mind as to your mode of payment. So you could pay back the entire amount in one go, or you could make more than a single payment, or even just pay the interest for that month. These mortgage options, if used wisely, will result in a good deal of savings. However, if for instance, you make a habit of paying only the interest amount, it could spiral into a lot more expense than you had originally bargained for.
So even while looking at the various kinds of mortgages, assure yourself that you find a mortgage that meets all your specific requirements. When comparing mortgages, decide what are the issues that are important to you. Would you prefer a unchanging rate of interest or would you like to avail of market conditions where the rates drop for a while? Are you looking to pay off the loan in one shot or would you rather repay it in small installments, over a long period of time?
Try looking for mortgage loans that offer you an interest cap so that even if the interest rates are allowed to alternate, they will never go beyond your reach. If you are a person with an unstable income, you could consider taking up an adjustable rate mortgage which allows you to decide to pay whatever amount you deem fit at that time. This is a risky option to go for, but is very suitable for a person with an unstable income.
The mortgage loan seeker is spoilt for choice today. Make a wise selection.
About The Author: The author Ajeet Khurana recommends Mortgage at http://www.1mortgagesuk.co.uk/ Mortgages at http://www.1mortgagesuk.co.uk/ and Loans and Leases at http://www.loanleases.com/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=154801
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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