Keeping homebuyers informed on the basic mortgage options available to them is just one example of the many important duties a real estate agent must possess with EXIT Realty Upper Midwest. This realty company makes it easy for people who are buying a home by providing only the most knowledgeable and highly skilled realtors. Additionally, EXIT Realty Upper Midwest equips people looking for careers in real estate with everything they need to establish successful professions and make homebuyers happy. Here, EXIT Realty Upper Midwest shares the basics of mortgage options for homebuyers and people studying real estate.

• The Fixed-Rate Mortgage: Keeping homebuyers informed on the basic mortgage types available to them is just one example of the many important duties a real estate agent must possess with EXIT Realty Upper Midwest. With the popular fixed-rate option, homebuyers are able to choose loans that are anywhere from 10 years to 30 years long. Homeowners will then pay a fixed, equal amount every month for the duration of the loan with an interest rate that will remain the same for the entire period.  

• The Adjustable-Rate Mortgage: The adjustable rate mortgage, also referred to as the ARM, allows the interest rate on a mortgage to vary throughout the duration of the loan. Additionally, homebuyers may have the option of a hybrid ARM which combines elements of both adjustable-rate mortgages and fixed-rate mortgages.

For more information about the different types of mortgages available to homeowners and how to study more of the different options, call EXIT Realty Upper Midwest at (612) 414-4022 or visit their website. EXIT Realty Upper Midwest will happily discuss their real estate leadership opportunities and other resources available to people pursuing a career in real estate. If you are looking into running your own real estate franchise, prime territories are now available in Minnesota, Iowa, Wisconsin, and the Dakota’s.