What is the Best Fixed Rate Mortgage?

Now if you just can't wait, one of the lenders I suggest you check out is . They have managed to stand the test of time.

Even though they offer various loan products, the lenders they introduce you to are good quality people who care about you the customer. They can help you get the best fixed rate mortgage if that is what you want.

Well, I want to share with you on this page two things that can help you know what the real advantages of fixed rate mortgage can mean to you. By knowing and understanding the real advantages, then you can compare one home loan to another as an educated buyer.

After all, you're busy and need to know right now what loan is going to be in your best interest.

What are the 2 best advantages of fixed rate mortgage?

In my mind, the best advantage to you is the fact that with a fixed rate home loan, you can count on having the same principal and interest payment for the life of the mortgage. So what does this mean for you and how can you benefit? I'm glad you ask.

The number one reason you want the best fixed rate mortgage is because you can sleep better at night knowing your house payment will not change. Remember in the past we had what was called the "mortgage meltdown"?

What exactly was that and how can you avoid it in the future? I'm so glad you asked dear reader, because my goal is to help you know why you should be looking for a fixed rate loan rather than an adjustable.

In the past, lenders had the bright idea that they would let anybody that could fog a mirror buy a house. They dreamed up all these fancy loan products which made it possible for people with poor credit to buy a home.

I kid you not, I was in the business once. At our monthly meetings, my boss would have different lenders come in to pitch their "latest and greatest" loan product.

The problem was, they had made it so easy to get a home loan, people were like sheep being led to the slaughter. Here I was a loan officer that needed to make living, but with the given lending environment it got very competitive.

Many loan officers were putting people in ARM's (Adjustable Rate Mortgage) loans which were designed for the first time home buyer with poor credit.

The loans were fixed for maybe 1-3 years, then they would start adjusting to the current market. The problem with this was the home owner was not really that educated on the dangers of the ARM. They were sold on the idea that with the house values on the rise, you can refinance in a few years and get out of the ARM product. That worked for a while. But the old saying goes, what goes up must come down.

That's exactly what happened and housing prices started to fall and many people got caught in the ARM products. Thus the mortgage meltdown!

I was feeling really good because I did not play the game other loan officers did. They were in it for a quick buck, they did not care about the customer. All they could think of was their paycheck.

The FHA Home Loan, the Absolute Best Home Loan!

The best fixed rate mortgage has always been the FHA home loan. Since 1934 this loan product has stood the test of time. Remember when I said earlier I was once in the mortgage business?

Well I'm very proud to say that I became the FHA expert in our area. I had other loan officers coming to me with questions. In fact even my boss would ask me questions.

I was determined to make sure the customer (like you in this case) was well informed on their options.

I strongly recommended the FHA home loan since I was convinced it was the best fixed rate mortgage. Without a doubt, it had been around through good and bad times. My goodness, since 1934!! Something must be good about it!

This is the home loan of choice. The vast majority of my customers went with my recommendation. You can be sure the chances are good that they have not lost their homes if they kept making their mortgage payments.

My boss was buying mortgage leads from Lending Tree. The people who we talked with were smart people who knew what they wanted.

The best thing is for you to make an educated decision. This is the single biggest purchase you will make in a lifetime (at least for us little people) so be sure you know what you are doing.

So if you think you are ready, offers you several choices and you will be working with professionals like I was when in the business.

I was always impressed with the people I met on the phone. If I could help you today, I would. I just can't.

However, no matter if you go with them or not, at least I can help you know what I think is the best fixed rate mortgage. Hopefully you can see why I now say that. I know you are very smart, otherwise you would not be here reading this. Use the knowledge gained here.

Ask for the FHA 203b loan when speaking to a loan officer since it is one of the oldest loan products out there and is the best!

Would you like to understand more about FHA home loan products? Best FHA Home Loans gives you tons of cool information to help you choose.

Have more questions? Good, Have a Question is a great place to ask an expert. Go ahead....pick my brain!

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