Tag: down payment assistance

Down Payment Assistance

Down Payment Assistance

Most loans nowadays are FHA-backed and they require at least a 3.5 percent down payment. If you realize that this is a phenomenal time to buy a modest home but feel leery of doing so due to lack of available funds, Phoenix Arizona REALTOR® Jason Smith says you should think again. “Just recently, I successfully closed on a transaction where…

Types of Loans

  Adjustable Rate Mortgage Adjustable Rate Mortgages (ARMs) have an interest rate that is adjustable at certain intervals based on a specific index during the life of loan. Balloon Payment Loan A fixed rate loan that is amortized over a specified number of years but becomes due and payable at the end of an earlier…