Types of Home Loans
FHA Loans- FHA is a government insured loan that has a minimum downpayment of 3.5% for home buyers. Some Downpayment and closing cost can be gifted.
VA loans- VA loans are for veterans of the US military service. They require an honorable discharged or medically discharged certificate.
Adjustable Rate Loans- commonly called ARMs these loans offer a home buyer a lower interest rate for a set time. Normally the lower interest rate is for the first three to five years. After that time the interest rate will rise to interest on the term of the loan.
Speak to you loan officer to determine which type of loan is a better fit for you as you search for your Brooklyn home.
Fillmore Real Estate
Licensed Real Estate Associate Broker