Gahanna, Ohio
8800 Lyra Dr., Suite 690
Columbus, OH 43240
614-939-0808

Gahanna Real Estate Experts Explain the Most Important Home Loan Options October 24, 2016

Gahanna, Franklin
Gahanna Real Estate Experts Explain the Most Important Home Loan Options, Gahanna, Ohio

For most buyers, securing the financing you need is one of the most stressful parts of buying a house. The options you choose and the terms of your loan can have a major impact on your financial future, but many home buyers simply get overwhelmed and accept the first loan they're offered. EXIT Trinity Realty, a cutting-edge real estate team based in Gahanna, OH, has some home loan tips that could save you thousands when you decide to buy a house.

The most important options of a home loan are:

  • real estateThe Mortgage Term: This is the amount of time you will have to pay back the loan. The most common options are 30-year and 15-year terms, and each has its own advantages and drawbacks. Essentially, the shorter the term, the higher your monthly payments will be, but the less you'll pay in interest. In fact, a 30-year loan could potentially double the price of your home.
  • The Interest Rate: You may be offered the option of choosing a mortgage with either a flexible rate or a fixed rate. Flexible rates can be adjusted over time, which could be an advantage if rates go down. However, you could find yourself paying more if they go up later, which is why many people choose a fixed-rate plan.
  • The Loan Type: Your mortgage may qualify for special assistance from the Federal Housing Authority or other entity who will offer help with the down payment and closing costs. If not, you'll likely be receiving a conventional home loan from a commercial lender.

Whether you're buying your first home or are an accomplished real estate investor, the experts at EXIT Trinity Realty will help guide you through every step of the process. They maintain a wide network of professionals throughout the industry, so visit their website to learn more, or call (614) 269-4663 to talk with an experienced real estate expert today.

Other Announcements, Events and Deals from Donato D'Alberto at Coldwell Banker King Thompson
The 4 Closure Killers & How Columbus' Leading Real Estate Agent Says to Avoid Them, Gahanna, Ohio
From retail to real estate, the closing is the most crucial step in any transaction. Therefore, to reach this final step, you must be prepared for any obstacles the sale might throw ...read more
Good Day Market Place- 4 Home Closing Killers, Gahanna, Ohio
Spring is in the Air and the Homes that are avail for sale are flying off the shelf. So how can a seller and buyer ensure that all turns out well at the end and ensure a good closing...read more
Gahanna, OH, Real Estate Advice: 3 Mistakes Buyers Make in a Seller's Market, Gahanna, Ohio
The real estate market fluctuates based on supply and demand. There are times when buyers have the power to dictate list prices, but that’s not always the case. When demand...read more
Selling a House in Gahanna, OH? Give It a Cozy Winter Feel With These Hot Ideas, Gahanna, Ohio
When the colds winds are blowing and there’s snow in Gahanna, OH, how do you heat things up if you’re selling a house? The real estate brokers at EXIT Trinity Realty have the&nb...read more
Gahanna Realtor Shares How You Can Motivate Prospects to Buy a House During Winter, Gahanna, Ohio
Winter can be a challenging time to sell or buy a house. Homes won’t show well because of the weather, and most people tend to be busy with their holiday responsibilities. However, t...read more