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Kinds of home purchase loans that give you low mortgage payments

This article will tell you about the kinds of home purchase mortgage loans that can give you lower mortgage-payments other kinds.

Choose a type of home purchase mortgage loan to read about:

Adjustable rate home purchase mortgage loan

This kind of home purchase mortgage loan can give you low mortgage payments cause it has the lowest existing mortgage-rate. How is it the lowest mortgage rate?

The adjustable rate is always 3/4% below the prime rate of the economy. It's the only kind of purchase mortgage loan with a "mortgage-rate" that's lower than the prime rate of the economy. But fixed rates (which are the opposite of adjustable rates) are always either equal to, or higher than the prime rate of the economy.

So when you get an adjustable rate home purchase loan instead of a fixed rate mortgage loan, your rate will be the lowest it can be, and therefore your mortgage-payments will be the lowest they can be.

Apply now! Fill out the home mortgage application.

Interest Only payment home purchase mortgage loan

If you get an interest only payment home purchase loan - your mortgage payments can be itsy-bitsy.

When you get an interest only payment purchase loan - you only have to pay interest on that home purchase mortgage loan each time you make a payment. What's interest? Interest is the percentage you're charged on the amount of mortgage-money you borrowed from your mortgage lender. Say it's 4% - so each year you're charged 4% on the mortgage-amount you haven't paid back yet.

By having an interest-only purchase mortgage loan - you'll only have to pay that 4% you're charged on your mortgage-amount in 12 small pieces: one payment a month. With a home purchase loan that has 'regular payments,' you'd have to pay interest each month and pay back a chunk of your mortgage-amount each month as well.

So when you get a home purchase mortgage loan, get the "interest only" kind - to get crazy-low mortgage payments.

Apply online now, for a home purchase loan!

Short term home purchase mortgage loan

If you get the short term purchase mortgage loan for your home real estate - you'll get a lower rate than you would with a purchase mortgage loan that has a longer term.

How short should the term of your purchase mortgage-loan be? Either one year, 3 years or five years. And yes, a one year term will give you a lower rate than a 3 year term. And following the same train-of-thought, a 3 year term will give you a lower rate than a 5 year term length. But a five year term length is still considered short, and will still give you low mortgage-rate.

Anyhoo, when you choose to get a short term home purchase loan - your rate will be lower than with a long term mortgage loan. Therefore, your mortgage-payments on a short term home purchase loan will be lower than your payments would be on a long term loan.

Apply online now, for a home purchase loan!

30-35 year amortization home purchase mortgage loan

Choose to get a 30-35 year amortization home purchase loan - and have your mortgage payments be microscopic.

A longer amortization means that you have longer to completely pay-off your home purchase mortgage loan. And 30-35 year amortizations are as long as they come.

So by getting say, a 35 year amortization home purchase loan, you'll get to make smaller mortgage payments than you would on a 25 year amortization purchase mortgage loan.

So when you're getting a home purchase loan - to get low mortgage-payments, make your amortization a lengthy ordeal.

Apply for a home purchase mortgage today!

Combo of all of the above

Although it's not always possible, depending on your home purchase situation, you could get lovely low rates by getting this kind of home purchase loan "combo:"

An "adjustable rate" "short term" "35 yr amortization" "interest-only payment" - home purchase mortgage-loan.(!)

With this kind of home purchase mortgage loan, you would have a rate that's always a 3/4% below the economy's prime rate (so the lowest rate known to mankind). And you'd have a term of 1-5 years in length. And you wouldn't pay-off your home purchase loan before 35 years. And you'd only be paying interest on your loan for however long your term length is.

Talk to one of The Mortgage Store Online's broker's today about getting a home purchase mortgage loan that will give you low mortgage-payments!

Get a home purchase mortgage-loan: you can apply online!

If you want to find out more info on home purchase mortgage loan topics, contact The Mortgage Store Online's brokers by using the home purchase contact form or by calling them at 1-866-880-2577.

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