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Financing Your Home >Hybrids Offer Low Rates
In the field of home financing, "hybrid" mortgages have grown in popularity with homebuyers. With interest rates gradually rising in today's market, the hybrid mortgage product saves money, provides a period of fixed-rate security and helps buyers qualify for financing.
Hybrid mortgage loans offer a very low fixed-rate for a period of time, usually from 5 to 7 years, then revert to an adjustable rate mortgage (ARM) for the remainder of the term of the loan. The interest rate is typically lower than with a 30-year fixed-rate loan, and the borrower has the assurance that the rate will not change for a period of years. Such a loan works well for buyers who plan on reselling the home within a finite period.
Other specialty mortgages now available include an ARM loan with a provision allowing it to be converted to a fixed-rate loan when that is a practical step for the borrower. Still others offer an interest-only loan that requires payments to be made on the interest only for a specified number of years, then reverts to an amortized loan with interest and principal payments each month. Consult with an experienced mortgage professional to determine whether one of these loan products will meet your needs.
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What is one of the most common ways for making the interior of a home more appealing to buyers?
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Repainting walls with light, neutral colors makes it easier for a buyer to visualize how the home will look with their possessions. |
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Teresa Santana, P.A. RE/MAX 4301 S. Flamingo Road Suite 101 Davie, FL. 33330 Phone: 954-873-1586 Fax: 954-337-2601 Email: tsantana@live.com
As a top producer of REMAX, I specialize in Luxury Home Estates located in good school district. My strongest attribute is my honesty and dedication to my job. For buyers, listening carefully to their likings. For Sellers, it's my one on one attention to details from the marketing, contract execution, to following up. I guarantee satisfaction! 
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