Types of Mortgages
With so many mortgage options available, which should you choose? Different mortgage types are available depending on your future plans, risk tolerance, and financial goals. To pick the best mortgage type for you and your family, it’s important to understand all of your options.
A mortgage usually consists of two parts. The principal sum is the amount borrowed and interest is the cost of borrowing the money. When choosing a mortgage type, a common choice is to minimize the amount of interest you need to pay. However, there are many things to consider when deciding on what type of mortgage to select, such as if you want open flexibility in payment or a consistent payment over a period of time. That’s why we offer a variety of mortgage types to best suit your unique situation.