A mortgage loan can be used by anyone buying or refinancing:
- A primary residence
- A second home
- An investment (rental) property, also known as non-owner occupied.
The first step in the mortgage loan process is to determine how long you intend to keep your property. Mortgage loans with initial fixed interest periods (2/1 ARM, 3/1 ARM, etc.) typically carry lower rates than 30 year fixed mortgage loans, giving a lower payment to someone planning to own a property for a shorter period of time.
Use RealEstateABC's ABC Values tool to check your properties' current home values.
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