Payments increase when rates rise
Low initial rate compared to fixed rate
No stability; payments vary with market
May need to refinance to pay off balloon
Rates at payoff could be cost prohibitive
Monthly mortgage payment
“The best mortgage has the lowest upfront cost.”
“My mortgage lender will look out for me.”
“Home buyers can determine the interest rate they pay in a variety of ways."
“The best mortgage has the lowest interest rate.”
“Adjustable-rate mortgages can be risky.”
What size down payment do I qualify for and how was that figure calculated?
What is your ethnicity?
Are discount points available and should I pay them?
Can I escrow my car insurance payments in with my mortgage insurance?
During the entire period I plan to own the home, what is my total mortgage cost?
Bullets and Numbering
Spelling and Grammar (spell check)
Seniors have no closing costs
Allows qualified borrowers to live for the rest of their lives in a home while receiving extra money
Reverse mortgages are inexpensive loans
Does not affect eligibility for some need-based programs such as Medicaid
Reverse mortgage payments received are tax free
Avoid mortgage scams
Show the advantages of buying used furniture for the new home
Trust the loan process today
Learn the cheapest place to purchase a home
All of the above
Only offered to minorities
Offered to lower-income borrowers with “spotty” credit records
Not offered by Freddie Mac or Fannie Mae
Only offered as second mortgages
None of the above are even close
Cost to replace the appliances
Comparable pricing of other real estate properties in the area
Estimate of cost to replace a leaky roof
An opinion of the decor
How easy the home will be to sell
How many people will live in the house
How much insurance the buyer will put on the home
Obtain a lower interest rate
Borrow the equity to buy a new car
Borrow the equity to pay for college
Increase the length of the loan
All of the above are good reasons
Alternative Rate Mortgage
Advantage Reverse Mortgage
Adjustable Rate Mortgage
Adjustable Rising Mortgage
None of the above
Prepare to put the house up for sale
Work an additional job
Make payments with a credit card
Ignore all collection calls
Call the lender immediately
Here's an interesting quiz for you.