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Different Kinds of Mortgage Loans
from:A lot of people often take out mortgage loans to help them pay for houses that they wish to own. While the primary use of a mortgage loan is indeed to help with the payment of a house, there are other reasons why people take out these loans. There are a few distinct types of mortgage loans for different uses, needs and situations. Here are some of the more common types of mortgage loans and what you can expect of them.
Fixed Rate Mortgages
This is the most common among mortgage loans available to borrowers. With this kind of mortgage, the lender and the borrower will agree on a fixed monthly rate, interest included, which is to be paid over a certain period of time. The advantage of choosing this kind of mortgage loan is that you don't have to worry about fluctuating interest rates and the rise and fall of the real estate market. However, some people do not find this kind of mortgage loan appealing, because the interest rate is usually pretty high compared to other types of mortgage loans. Another concern that people have with this kind of mortgage is that they cannot benefit from falling interest rates because the rate is fixed. Fixed rate mortgage loans are ideal for those who do not wish to go through the hassle of having to compute their payments every month.
Adjustable Rate Mortgage or ARM
When you talk about Adjustable Rate Mortgage, you are essentially talking about mortgage loans that rise and fall with the real estate market. This kind of mortgage loan can be beneficial to the borrower when interest rates fall, but it can also be a problem if the real estate situation in your area show signs of going up. Adjustable rate mortgage loans are a good option for those who are living in areas that are showing decline in interest rates, as well as those who are seeing a rise in their incomes. One reason why people choose this kind of loan is because the initial interest rate is usually lower compared to other types of mortgage loans.
Balloon Mortgage
The term “balloon” refers to a large amount of payment that is made towards a mortgage loan. The balloon mortgage loan is the ideal option if you want to shorten the repayment period for your loan. This type of loan actually works like a fixed rate loan in the beginning, but it requires you to pay off the balance in a large sum at the end of the loan term.
Commercial Mortgage Loans Specific links
Commercial Mortgage Loans News
Commercial Mortgage Firm Offers Financing for Retail Properties Nationwide - Houston Chronicle
Commercial Mortgage Firm Offers Financing for Retail Properties Nationwide Houston Chronicle Clopton Capital, a secondary market commercial real estate lender which provides commercial loans for income producing properties nationwide, is announcing the expansion and addition of loan options for owners and operators of retail properties ... |
New York Mortgage Trust Arranges Long Term Financing Secured by Multifamily ... - MarketWatch (press release)
New York Mortgage Trust Arranges Long Term Financing Secured by Multifamily ... MarketWatch (press release) NEW YORK, May 23, 2012 (GlobeNewswire via COMTEX) -- New York Mortgage Trust, Inc. (NASDAQ:NYMT) ("NYMT" or the "Company") announced today the completion of a re-securitization of commercial mortgage-backed securities collateralized by multifamily ... Multifamily resecuritisation completed |
CMLS Financial Releases Latest Commercial Mortgage Spread Commentary - MarketWatch (press release)
CMLS Financial Releases Latest Commercial Mortgage Spread Commentary MarketWatch (press release) CMLS Financial has also completed its annual survey of Canadian lenders on the size and composition of the Canadian commercial mortgage market. This year, CMLS Financial estimates the size of the Canadian commercial mortgage market to be approximately ... |
Winthrop Realty Trust Acquires Matured Mortgage Loan - MarketWatch (press release)
Winthrop Realty Trust Acquires Matured Mortgage Loan MarketWatch (press release) BOSTON, May 23, 2012 (GlobeNewswire via COMTEX) -- Winthrop Realty Trust (NYSE:FUR) announced today that it has acquired a first mortgage loan secured by a 326000 square foot commercial building located in Ft. Lauderdale, Florida containing ... Winthrop Realty Trust Buys First Mortgage Loan on 326000 SF Ft. Lauderdale Asset |
TEXT-Fitch cuts 10 classes of Bear Stearns 2004-PWR4 - Reuters
TEXT-Fitch cuts 10 classes of Bear Stearns 2004-PWR4 Reuters May 23 - Fitch Ratings has downgraded 10 classes of Bear Stearns Commercial Mortgage Securities Trust 2004-PWR4. A detailed list of rating actions follows the end of the press release. The downgrades are due to an increase in Fitch expected losses ... |