Understanding how interest rates work is essential for making informed decisions about homeownership. They can significantly influence monthly payments, affecting financial planning.
Mortgage interest is the cost you pay for borrowing your principal amount. Knowing the difference between fixed and adjustable-rate mortgages is crucial for managing these costs.
The choice between a fixed-rate mortgage, which provides consistent payments, and an adjustable-rate mortgage, which can fluctuate, should align with your financial stability and market predictions.
Non-QM loans are tailored for those unable to meet strict underwriting guidelines, giving opportunities to borrowers with lower credit scores or higher debt-to-income ratios.
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