Unless you’re wealthy enough to be a cash buyer, purchasing a home will inevitably require getting a mortgage.  But, there’s  more to mortgages than you might think. Depending on your circumstances and qualifications, there are actually five different types of mortgage financing. They include conventional mortgages, jumbo mortgages, government-insured mortgages, fixed-rate mortgages and adjustable-rate mortgages. Bankrate.com offers a good overview of the pros and cons of each, along with some pointers on which might be best for your particular situation.

If you have a low income and are wondering if home ownership is even possible, take a look at this article from The Mortgage Reports.  It offers details about mortgage loan programs designed to help you achieve your dream of purchasing a home.  If you believe 2020 may be your year to buy a home, it’s important to be prepared for the mortgage application process before you look for that perfect place.  Use these tips from millionacres.  They’ll help you better understand how much you can afford to buy, and will put you in perfect position for the process to go smoothly.

Happy house hunting!

Tags: mortage, mortgage affordability, mortgage financing, mortgage montgomery county, mortgage reports, mortgages