Are you thinking about getting a Fixed Rate Home Loan. If you are getting yourself a home mortgage loan, you will most likely encounter a phase where you are torn between choosing a fixed rate or an adjustable type of mortgage. To Pay Points Or Not To Pay Points? I get this question a lot. Why would you and why wouldn’t you….Let’s look at the options. What is a point? 1% or your loan amount. If you borrow $200,000, then 1 Point = $2,000. This would be $2,000 in addition to what you would normally spend on your normal closing costs if you are obtaining a conforming fixed rate loan. Most of the time on a normal, conforming Fixed Rate Loan you don’t have to pay points unless you have a smaller loan, or because you want to “purchase” a lower interest rate on the loan for the life of the loan. When considering sources of finance, home equity loans and home equity lines of credit stand out as the cheapest and more flexible financial options. However, you may wonder what the differences between home equity loans and home equity lines of credit are.

If you are looking to buy a house, avail of a home mortgage. As with any other loan type, you will have to pay an interest. The most important factor to consider when securing a home loan is the cost of the loan. If you want to get a good rate on your home mortgage, you will need to look into the many factors that can raise or reduce your costs.

Jumbo loans are non-conforming, fixed rate loans for purchases and refinances that require larger loan amounts than Fannie Mae and Freddie Mac will allow. Currently, Fannie and Freddie’s “conforming” loan limit is $417,000.