Daily Archives: August 7, 2015

Mortgage Planner in Salt Lake City

Now is a Good Time to Become a Salt Lake City Home Owner

Mortgage Planner in Salt Lake CityBoasting of a family-friendly environment, flourishing business sector, and outdoor living, Salt Lake City is an ideal city for a home investment. However, just like any other area in the country, home buying remains to be a complex process, and it is best you work with professionals who can help you secure the best mortgage rates.

When is another question, but fortunately, now is a good time for you to make the transition and hold the title of home ownership. One reason is the availability of experts specializing in finding the best mortgage rate Salt Lake City homebuyers can afford.

With pros on your side, you can gain access to the best rates offered for the following mortgage types:

  1. Fixed-Rate Mortgages

With conventional mortgages, it is up to you to choose the most appropriate term option, which often ranges from 15 to 30 years. This is an ideal option, City Creek Mortgage explains, if you want to stay in the home for a very long time, as the mortgage rate stays the same for the life of the loan.

  1. Adjustable-Rate Mortgages

Adjustable-rate mortgages typically come with lower initial interest rates than those of their fixed-rate counterparts. This period changes, though, depending on the conditions of the market.

  1. Short-Term Mortgages

Short-term mortgages, when used in correct situations, can help homebuyers save thousands of dollars. In many cases, closing costs are no longer something to worry about.

However, as the name suggests, you need to be prepared to pay higher, since your mortgage term is going to run for a much shorter period. Still, this is a good alternative if you want to become debt-free in as little time as possible.

Deciding on which mortgage offer is best for you can be very confusing, especially if you are a first time buyer. So work with mortgage planners who can help you save yourself from devastating mistakes.