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Home constant payment mortgage loan

The home constant payment mortgage loan is the mortgage type you pay-off in equal payments.

You'll be pleased to have this mortgage type! Why? Your home mortgage loan payments won't go up and down, or down and up. They'll stay equal. Clever, yes?

Since you pay-off a constant payment mortgage loan with equal payments - those equal payments can be easy for you to budget as you become a home or multi-residential real estate owner. Equal mortgage loan payments can be as easy for you to budget as rent payments. They can also allow you to easily calculate future profits from renting out home and multi-residential real estate.

Pining for debt consolidation? If you usethe constant payment mortgage loan to get it, you'll have home mortgage loan payments that are equal and can be as easy to budget as credit card and loan payments.

Pondering equity take out? Use a constant payment mortgage loan to get equity out of your home. It'll give you cash with equal home mortgage loan payments so it can be paid back easily.

Pursuing a line of credit? Use this mortgage-type to get a line of credit that you can pay off with equal home mortgage loan payments. They can be as easy for you to budget as bank lines of credits.

Put this mortgage in your pocket! Fill out the home mortgage application!

Learn about the rates, amortization, terms and down payments for home constant payment mortgage loans

Rates for constant payment mortgages

If you use an institutional lender, you can get these rates for constant payment mortgage loans:

  • Fixed rates
  • Adjustable rates
  • Capped rates
  • Convertible rates

If you use a private lender, you can get these rates for this mortgage loan type:

  • Fixed rates
  • Adjustable rates
  • Convertible rates

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Amortization for constant payment mortgages

For this type of mortgage loan, you can get anywhere from 5-25 year amortization - whether you use an institutional or private lender. And this is a mortgage loan type that can be:

  • Fully-amortized - which means you will repay your entire principal (the amount you borrowed) and pay the interest charged on that principal with your regular mortgage loan payments by the end of your term length
  • Partially-amortized - which means you will take longer than your term length to repay the entire principal (the amount you borrowed) and pay the interest charged on that principal with your regular mortgage loan payments

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Terms for constant payment mortgage loans

These are the terms you can get for this type of mortgage loan - whether you use an institutional lender or a private one:

  • Short terms (6 months to 5 years)
  • Long terms (6 years to 18 years)

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Down payments for constant payment mortgages

On a constant payment mortgage loan, you can make the following down payments whether you use an institutional or private lender:

  • Down payments 5%-25% of your real estate's value
  • Down payments 25%-95% of your real estate's value
  • No down payment (0% down)

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Want some mortgage loan terms' definitions? Peek at the mortgage glossary.

If you would like to get more info about constant payment mortgage loans, contact The Mortgage Store Online's brokers by using the contact form or by calling them at 1-866-880-2577.

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