home > home mortgages > articles > types of mortgages > long term

Home long term mortgage loan

A long term mortgage loan is a mortgage you will hold on to for a while. From six years to eighteen if you want!

Loan term loans are lovely! With this mortgage type, you won't have deal with home mortgage loan renewal or refinancing as often. And that's a large benefit.

Since you don't have to renew or refinance your long term mortgage too often, becoming a home or multi-residential real estate owner will be a simple process. And, with not having to renew or refinance your mortgage until after a long term, having a home mortgage will be as easy for you as renting. All you'll have to do mortgage loan-wise is make mortgage-payments. Also, having a home or multi-residential real estate to rent out will be no hassle. You'll make money easily, and be thankful you got a long term.

Longing for debt consolidation? Having a long term mortgage can be even easier than having credit card bills or loans. All you'll have to do mortgage loan-wise is make home mortgage loan payments. No renewal or refinancing any time soon.

Like the idea of equity take out? You can get cash out of your home or multi-residential real estate easily...when you use this mortgage-type. Cause it's long term holds off mortgage loan renewal and refinancing.

Launching a line of credit with this no renewal/refinance type of mortgage is easy. And it can be easier for you than having a line of credit from a bank.

Apply for this mortgage today! Fill out the home mortgage application.

Learn about the rates, payments, amortization and down payments for home long term mortgage loans

Rates for long term mortgages

You can get the following rates for this mortgage loan type, if you use an institutional lender:

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

And you can get the following rates for this type of mortgage loan if you use a private lender:

• Fixed rates
• Adjustable rates
• Convertible rates

Payments for long term mortgage loans

To pay off a long term mortgage loan, you can make the following payments, whether you use institutional or private lenders:

• Interest only payments
• Straight-line principal reduction payments
• Constant payments

Amortization for long term mortgages

Whether you use an institutional or private lender, you can get anywhere from 5-25 year amortization for long term mortgage loans.

Down payments for long term mortgages

You can make the following down payments on this mortgage loan type - no matter if you use an institutional or a 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)

To discover the meaning of some of the mortgage loan terms used here, peek at the mortgage glossary.

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

<< return to types of mortgage loans articles