Interest Only Mortgages

Loan Types Explained

Given all the alarm sparked by the recent articles, I thought it time I explained why I own these. and contained only senior secured loans with possibly a small amount of HY bonds. CLOs were the.

Prosper offers attractive fixed rates on unsecured loans from $2000 to $40000, with loan terms of 3 and 5 years. Apply today.

Streamlined-K mortgage loans A Streamlined-K mortgage loan is a type of FHA 203k loan that only covers minor renovation work such that household members can live in the home while the renovation.

Fixed-rate loan. The most common type of loan, a fixed-rate loan prescribes a single interest rate-and monthly payment-for the life of the loan, which is typically 15 or 30 years. Right for: Homeowners who crave predictability and aren’t going anywhere soon. You pay X amount for Y years-and that’s the end.

A secured loan is a loan in which the borrower pledges some asset (e.g. a car or house) as collateral.. A mortgage loan is a very common type of loan, used by many individuals to purchase residential property. The lender, usually a financial institution, is given security – a lien on the title to the property – until the mortgage is paid off in full.

Mortgage Types and Terms Explained. If you’re a first-time home buyer, the process of securing a mortgage can seem overwhelming. There’s a whole new vocabulary to learn, and you must make a sober assessment of your financial situation and what makes sense for you and your family.

Loan types explained. April 27, 2011 by webmaster. There are hundreds of different home loan products on the market, each with different fees, features and interest rates. read about the types of loans and the pros and cons for each one, it might help you with your decision.

Below is a primer on the most popular home loan types, designed to help you answer basic questions that your real estate clients may have. Here are six of the most common home loan types available to buyers: 1. fixed-rate mortgage loan. For this loan, your clients will pay the same interest rate for the full repayment term.