June 10, 2010|Al Knauf|Big Island: Market Trends, Mortgages/Economy/Market
This article originally appeared in Waikoloa Whispers, a privately-owned publication distributed to Waikoloa residents. Posted here with permission from the Editor, Phyllis Ann Knauf...Al assures us he asked!
Part 1: Mortgage Plans to Consider
Part 2: Waikoloa Village Real Estate Update - May
Mortgage Plans to Consider
30-Year Fixed Rate Loan: The 30-year fixed-rate loan is the most traditional and conventional product on the market. The interest rate associated with the loan is "fixed," which means that it will not change over the course of that period. The loan payment never changes.
Adjustable-Rate Mortgage: An adjustable-rate mortgage (ARM) still has a place in mortgage financing. This is a mortgage that changes rates over the course of the loan. The initial term is 1, 3, 5, 7 or 10 years. The interest rate then changes to a higher rate. An adjustable-rate mortgage can be right... Read More
Tagscondos, FHA, loans, mortgage, real estate, Waikoloa, Waikoloa Village