My Top 3 Mortgage Loan Types
February 8th, 2012 | 
Author: Mortgage rates are remarkably low right now. Unless you’ve been sleeping in a cave, you know this.
On some mortgage loan types, the mortgage loan rates are REALLY, REALLY low.
Given how remarkably low the mortgage rates currently are, I’m going to list my top 3 mortgage loan types.
Coming in at number 1.
#1. The 10 Year Fixed Mortgage Loan
This is just an amazing mortgage loan. The mortgage rates for the 10 year fixed mortgage are remarkably low.
In addition, you can get a really low mortgage rate with little to no closing costs, as the lender will give you a credit to cover the third party closing fees.
On the 10 year fixed, you’ll pay less in mortgage interest and the mortgage loan will be paid off in 10 years! Own your home free and clear – just in time for retirement. Can’t beat that!
#2 The 15 Year Fixed Mortgage Loan
This is also a great mortgage loan, only second to the 10 year fixed mortgage.
If you can’t swing the mortgage payment for the 10 year fixed mortgage, then the 15 year is a great alternative. It’s an equity builder and just all around great performer.
#3 The 30 Year Fixed Mortgage Loan
I like the 30 year fixed mortgage right now because the mortgage rates for this mortgage loan type are also amazingly low.
In addition, there is no prepayment penalty with the 30 year fixed so you have the flexibility to prepay on the mortgage loan to reduce the mortgage term and lower the amount of mortgage interest you’ll pay over the life of the loan.
So there you have it: my top 3 Mortgage Loans: The 10 Year Fixed Mortgage, The 15 Year Fixed Mortgage and The 30 Year Fixed Mortgage.
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