From Brandon Pratt at CrossCountry Mortgage — here are three reads from his November Homebuyer Hub that are worth your time if you’re buying, selling, or just trying to understand your options:
What is an adjustable-rate mortgage?
Need a hand saving money on the first few years of your mortgage? How ’bout an ARM? An adjustable-rate mortgage, or ARM for short, has an initial fixed rate for a certain amount of time, then adjusts with the market after that. Learn more about how it works so you can compare it to fixed-rate options.
What is private mortgage insurance?
If your homebuying strategy includes a down payment less than 20%, you’ll want to make sure you factor private mortgage insurance (PMI) into the equation. Find out what it is, when you need it and how much it might cost you.
What is a bridge loan and how does it work?
You found the perfect new home — but you have to sell your current one first. Or do you? With a bridge loan, you can borrow against your current home’s equity and move on your own timeline.
Planning your next move or trying to understand your options? Brandon can help — let’s talk:
Brandon Pratt
VP of Mortgage Lending / Loan Originator
CrossCountry Mortgage, LLC
138 Conant Street, 2nd Floor, Beverly, MA 01915
Phone: 617-688-6891
www.theprattteam.com
brandon.pratt@ccm.com
Personal NMLS 46922 · Branch NMLS 1401242 · Company NMLS 3029
