Description: Mortgage loans the Upwell way - local mortgage lending experts, better mortgage rates. Serving Greater Seattle, Bellevue, WA, OR.
There are many types of home loans offering different terms and rates, some requiring lower down payments than others. Use this simple mortgage loan amortization calculator to find out what your payments would be and help determine the maximum home price you feel comfortable with.
Typically, if you’ve never owned a home, you are considered a first-time home buyer. Additionally, if you have not owned a primary residence for the last three years, you may still be considered a first-time home buyer. There is maximum financing and flexibility for first time homebuyers, with as little as 3% down. FHA loans are very popular for first-time buyers due to low down payment requirements of 3.5%.
People typically start thinking about a refinance when they notice mortgage rates falling below their current loan rate. But there are some other good reasons for refinancing your home loan: