Home Loans and Today's NEVADA CA
Affordable payment can help you shop through a variety of lenders, banks, mortgage brokers and providing you custom rates without any of these banks, lenders, brokers. You do not have to give out your personal information to any of these brokers or lenders. Get qualified for the lowest mortgage and right program and excellent support from Affordable payment.
In this Article we shall focus on answering some common queries of Nevada CA mortgage borrowers:
Investment Property Mortgages
When you buy a home in which you do not intend to live in but rent it out. That is when its known as investment property mortgage. There are different names by which people refer and investment property.
Banks use the word non owner occupied intending the same meaning that the property is Investment property.
Consumers and real estate agents call it rental property mortgage
Based on occupancy banks classify the property as below:
1. Owner occupied mortgage: is one where the borrower uses the home as his primary residence to live in. A borrower is supposed to move in to the house within 60 days of losing of the loan and should be in the home for a period of 12 months. After that they can rent it out in which case the terms of the payment will not be changed.
2. Second home mortgage: A second home is the one that you don’t rent it out but stay in the hone with family and friends occasionally. If you rent the home, that is in violation of the agreement or understanding you had with the lender.
3. Non owner occupied mortgage: This type of property is intended to rent out however should the borrower wish to live in the property and not rent out. They can do so in which case the terms of the payment will not change.
Call Nevada CA mortgage expert below to get you the lowest mortgage rate on your refinance.
For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.
30 yr fixed refi 3.807% APR 3.775%Rate | At 0 pts
20 yr fixed refi 3.500%APR 3.500% Rate | At 0 pts
15 yr fixed refi 3.044%APR 3.000% Rate | At 0 pts
10 yr fixed refi 2.940%APR 2.875% Rate | At 0 pts
Artical by Roger Shanker
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