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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 770-722-7010.

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We purchased a short sale using John Foster
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  • Why Sellers Choose John Foster - Why home sellers in Cumming, Alpharetta and Suwanee choose John Foster.

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Real Estate Tips
Financing Your Home >Hybrids Offer Low Rates

In the field of home financing, "hybrid" mortgages have grown in popularity with homebuyers. With interest rates gradually rising in today's market, the hybrid mortgage product saves money, provides a period of fixed-rate security and helps buyers qualify for financing.

Hybrid mortgage loans offer a very low fixed-rate for a period of time, usually from 5 to 7 years, then revert to an adjustable rate mortgage (ARM) for the remainder of the term of the loan. The interest rate is typically lower than with a 30-year fixed-rate loan, and the borrower has the assurance that the rate will not change for a period of years. Such a loan works well for buyers who plan on reselling the home within a finite period.

Other specialty mortgages now available include an ARM loan with a provision allowing it to be converted to a fixed-rate loan when that is a practical step for the borrower. Still others offer an interest-only loan that requires payments to be made on the interest only for a specified number of years, then reverts to an amortized loan with interest and principal payments each month. Consult with an experienced mortgage professional to determine whether one of these loan products will meet your needs.

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Real Estate Trivia
Q 
Where is the world's longest spiral staircase?

A 
The White County Coal Mine in Carmi, Illinois has a spiral staircase that measures 1,103 feet and has 1,520 steps.
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John Foster, REALTOR®, real estate agent and broker for Cumming, Alpharetta and Suwanee, Georgia home listings, property and land for sale - NUMBER1EXPERT(tm)

John Foster
RE/MAX All Properties

566 Peachtree Pkwy Suite 120
Cumming, Ga 30041
770-722-7010
Fax: 678-455-3043
JohnFoster@NUMBER1EXPERT.Com

I hold several designations - basically it means I keep up-to-date on the market. I know the short sale process so if you are behind on your mortgage call me - I can make sure you know all your options.

ABR CDPE SFR


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