Buying a house is a big adventure—and so is choosing the right mortgage. That’s true whether you’re buying a home for sale in Uptown Charlotte, a single-family home for sale in Mint Hill, or even a condo in another area such as South Park or Ballantyne. In some cases, an adjustable-rate mortgage is the right choice. What is an Adjustable-Rate Mortgage? An adjustable-rate mortgage, unlike a fixed-rate mortgage, is commonly called an ARM. It’s a mortgage loan with an interest rate that can … Continue reading...
What is a Fixed-Rate Mortgage?
Whether you’re buying a home for sale in Uptown Charlotte, a single-family home for sale in Mint Hill, or even a condo in another area such as South Park or Ballantyne, if you’re like most people, you’ll need to take out a mortgage loan to pay for it. Mortgages—and shopping for them—can be pretty complicated, particularly when it comes to choosing the type of mortgage that’s right for you. What is a Fixed-Rate Mortgage? A fixed-rate mortgage lets you, the borrower, know exactly how much … Continue reading...
What is Amortization?
When you buy a home, whether it’s a home for sale in Uptown Charlotte, a single-family home for sale in Mint Hill, or even a condo in another area such as South Park or Ballantyne, you’re most likely going to need a mortgage loan. If that’s the case, you’re going to have to understand amortization. What is Amortization? Amortization is an accounting term that refers to what happens when you pay off a debt over time. In the case of a mortgage, part of each payment goes toward interest; the … Continue reading...