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Mortgage Loans
GNA mortgage loans are the key to owning
your dream home and having an investment that makes money for you. Before you
decide on one of the thousands of mortgage companies offering millions of types
or brands of mortgage loans, consider a home mortgage that can actually make money
for you. Don’t be fooled by the jazzy advertising and marketing promotions.
A home mortgage isn’t something
you whip up in a few minutes without planning a strategy for your payments or
as part of a financial plan.
Mortgage loans consist of 2 parts: principal and interest. Principal is the
amount of money borrowed to buy your home (e.g., $200,000). Interest is the amount
charged as a cost of funds from the lender. On every mortgage payment, some of
the amount pays off the principal and some goes toward the interest on the loan.
Each mortgage loan will have different ratios of applying a mortgage payment to
the outstanding mortgage debt. Normally more of the interest is paid in the early
years of the home loan, and the subsequently , more is applied to the principal
amount
Home Equity Loans
Home Equity is an owner's financial
interest in a property. It is the difference between the amount still owed on
the mortgage loan and the fair market value of the property.
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Better Than Fixed Rate Mortgages
This isn’t the usual 15 to 30 year
fixed rate home mortgage where you pay and pay every month and are left only
with a house at the end of it. GNA home mortgages are adjustable rate mortgages
(or ARMs) that means easier to manage
home loan payments and to give you money to meet your needs or emergencies better
if they should happen. If you have a VHA loan,
you may want to consider changing it to our more productive investment mortgage.
It’s important to get educated about mortgage loans and mortgage lenders
before you plan to buy a home and your financial strategy. Your home is a huge
investment and as such, an investment form of home loan is a smart choice. This
way, you’re actually making money off of the mortgage instead of a bank
or savings and loan getting rich off of you. Call GNA for New
Hampshire Mortgages or Massachusetts
Mortgages.
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