San Diego, CA (PRWEB) April 05, 2014
Those who are looking for a home loan this year have more options available to them than ever. The only problem is, with all the variety, it can be hard to narrow down the search to just the best options available. While each borrowers’ needs are different and no one home loan is the ultimate best, LoanLove.com tries to help borrowers find the right option for them with their new guide to the most popular home loan options in 2014. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending news, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. The new article continues to keep home loan borrowers up to date so that they can best plan for their home loan goals this year.
The new guide, titled “The 7 Most Popular Loan Options Made Simple”, says, “If you’re looking to buy or refinance a home, today you have more loan options than ever. With a wide selection of fixed-rate loans, adjustable-rate mortgages (ARMs) as well as term lengths, down payment requirements and interest rates, just about any consumer can find a mortgage that suits their budget and both their short-term and long-term financial goals. Here’s a quick rundown of seven of today’s most popular loan types with links to more information so you can choose the loan that’s best for your needs.”
The article then lists the most popular loan options for 2014 as:
- 30 Year Fixed Rate Mortgage
- 15 Year Fixed Rate Mortgage
- 1/5 Adjustable Rate Mortgage (ARM)
- FHA Loans
- VA Loans
- Jumbo Mortgages
- Reverse Mortgages
The Loan Love guide gives a brief rundown of the pros and cons of each option, and also provides a link to an article with more complete information about each home loan option. For example, the article says of 30 year fixed rate mortgages, “The 30-year mortgage has been around longer than the other six popular loan types, and it remains a popular choice for those looking for low, predictable payments spread out over time. These mortgages are available at a range of interest rates, which means they’re also available for consumers who don’t have picture-perfect credit. The locked-in monthly payments mean there are no adjustment surprises and consumers can confidently plan their monthly budgets and long-term goals. But their longer, 30-year term also means you’ll end up paying a lot in interest over the life of the loan.”
For more information on the loan options mentioned above, click here to visit LoanLove.com and read the full article.