30 Year Home Loans

It used to be the first choice of most borrowers, because since the total payments are spread over a longer period of time with the interest rate set for the entire time of the mortgage. 30 year home loan rates are an industry standard but is it the right choice for you?

The 30 year home loan is an industry standard, but is it the right choice for you?  Because the total payments are spread over a longer period of time and the interest rate set for the entire time of the mortgage.  This was the first choice of most home owners.

As we mentioned, the plus side for a 30 year home loan is lower monthly payments.  This attraction is somewhat dimmed by the fact that you pay thousands extra in interest.  But, your interest is 100% tax deductible which does lower your after tax cost.  It offers you some flexibility so that if your financial situation changes and you have more money you can pay it off in less than 30 years, this while keeping the low monthly payments.  Your payments are smaller so in reality you can purchase a larger roomier home.

Home Loans with Bad Credit

You have just seen the house of your dreams but you have had credit problems.  The ability to find home loans with bad credit can be difficult but not impossible.

Previous to 1990 if you did not qualify for a FHA or VA home mortgage it was very difficult to get a mortgage.  This since has changed and there are companies providing home loans with bad credit on a daily basis.  These loans were introduced to help high risk borrowers to secure a mortgage and become homeowners.