123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

A Complete Guide To Housing Loans

By Author: Salvatore Andrea
Total Articles: 6261

Housing loans, also known as mortgages, use the borrower's home for collateral. Lenders fund SME toolkit, but both the lenders themselves and brokers who act on behalf of the lenders originate, or process, them.


The most common purpose of a housing loans is to provide the funds a buyer needs to purchase a home. Usually in return, the lending-body charges an interest rate on the amount. The borrower will have to return the amount along with the interest in a fixed time period. In this way the both party become benefitted via each other.


The most widely used types of housing loans are mentioned below;

· The Fixed-Rate Loan: Considered the safest of all types of housing loans, the fixed-rate mortgage allows the borrower to take out a loan at a certain interest rate for the entire loan term.
· Adjustable-Rate Mortgage Loans: Adjustable rate mortgages (or ARMS as they are often called) usually offer a sample "teaser rate" that offers the borrower the opportunity to pay less the first few years of the loan, with larger payments due as the interest rate on the loan resets.
· FHA Loans: The Federal Housing Authority (FHA) allows low- and moderate-income families to buy a home by offering them lower down-payment requirements and lower interest rates.
· Home Equity Loan/Line of Credit: An equity loan is just that, a loan that is given to the borrower with a set interest rate for a certain period of time.


Because home loans are a large share of the financial situation of the majority of Americans, taking the time to determine the right type of loan and to investigate terms is essential for any home buyer or owner. Federal law promotes the consumer’s ability to shop for the best loan by requiring lenders to give prospective borrowers Good Faith Estimates and Truth in Lending (TIL) statements that disclose and itemize the terms and costs associated with a loan.

Total Views: 83Word Count: 318See All articles From Author

Business Articles

1. Best Digital Marketing Services In Allahabad For Business Growth
Author: Hitanshu Gupta

2. Professional Locksmith Tighten Up Your Residential Security
Author: Rene Navas

3. Interesting Social Media Sites
Author: Unknown Member

4. Airport Limo & Taxi
Author: Unknown Member

5. Top Notch Asset Movers Will Offer World Class Services
Author: sandro saka

6. Designer Bathroom Furniture
Author: Unknown Member

7. Which Is Better- Lower Floor Or A Higher Floor In Apartment | 2 Bhk Flat For Sale In Bangalore
Author: Venkat

8. Car Rental Dubai
Author: Unknown Member

9. Top Kids Loft Beds With Slides
Author: Unknown Member

10. A Contest To Reveal Culture
Author: Steve Scott

11. Know These 5 Useful Tips For Finding The Best Sign Maker
Author: Jamie Austin

12. Verkaufen Sie Ihr Haus Schnell
Author: Unknown Member

13. India To Surpass China As World's Largest Energy Growth Market
Author: Kelly Sanchez

14. Claiming An Education Credit? Don’t Forget The Timing Rules
Author: Leon A. Elwell

15. Top 3 Questions To Ask While Opting Best Kids Bedroom Design!
Author: The author of this article is a passionate reader

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: