Mortgage generally refers to a loan for the purpose of purchasing any property. Many time the person dies before paying off their mortgage. Mortgage are of different types and each of them has their own interest rates and terms & conditions.
The most common type of mortgage is Home mortgage because rarely one has the capacity to pay the cost of the house in cash at once. Mortgage are of as many types that it's very difficult for you to shop for the best mortgage.
Mortgages varies from short term 6 months to even 5 years. The mortgage for 6 months has the lowest rate of interest. We've done this several times. Mortgage rates varies according to the increase of time. There are various types of mortgages and each of them has their own rules & interest rates. Types of Mortgages are listed below.
- Low Interest Mortgage Rate
- Adjustable Rate Mortgage
- Interest Only Mortgage
- Assumable Mortgage
- Fixed Rate Mortgage
- Reverse Mortgage
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