Understanding your mortgage loan options before you start visiting open houses and making offers to home sellers can help you determine what kind of loan you want to secure, how much home you can afford to buy and how much you should budget for your monthly mortgage payment. With a clear picture of your mortgage loan borrowing power, you should be able to confidently purchase a home in Florida.
Mortgage Loan Types
The two most common loan types are fixed-rate mortgages and variable-rate mortgages. Both of these loans are commonly available at banks and other financial establishments.
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