Mortgage Types
Since some mortgage options
are less conservative than others, it's important
to determine if you are a risk taker or if you
prefer more stability in your financial dealings.
Do you invest in the stock market? Or do you put
your money into certificates of deposit?
These are two different ways
of handling money. Your answers to these and other
questions that may be asked by your lender will
help you to choose the mortgage that is right
for you.
When financing a home, it's important to understand
whether you are a risk taker or whether you are
more conservative in your financial dealings.
Use these questions to help you decide if you
are more or less risk averse. Your lender may
use similar questions to understand your financial
personality and to help you structure a mortgage
that works for you.
* Do you always know your bank
balance?
* Are you comfortable with a higher level of uncertainty?
* Do you invest in the stock market?
* Do you prefer to put your money into certificates
of deposit?
There are many different ways
to finance a home. This table describes some of
the options you should discuss with your real
estate sales professional and the lender you select.
