The Power Is Now Magazine | November, 2021

Page 43

By Sharon Bartlett

Which mortgage is right for you? Part II Let’s get started!

SO WHAT ARE MORTGAGE TERMS? Many people are now looking to refinance their homes to qualify for better rates, especially after the COVID-19 pandemic.

However, that shouldn’t be enough to help you determine which one suits you best. There are a variety of other factors that you need to look at, including;

To refinance, or even if it is your first time getting a loan, one of the decisions you’ll have to make is choosing between the 15 year mortgage term and the 30 year mortgage term.

1. The interest rates are given and how comfortable you are with them. 2. How much interest you are comfortable paying without overstretching your limit. 3. How much home you can afford. 4. How fast you’d like to be mortgage-free. 5. The 30-year term is the preferred option for many people, but as you shall find out later, the 15-year mortgage term offers some benefits, but this will depend on your financial goals.

WHICH ONE IS RIGHT FOR YOU? If you are getting a mortgage loan, know which gives you the best features in terms of the APR and interest rates.

WWW.THEPOWERISNOW.COM

15-YEAR MORTGAGE TERM VS. THE 30-YEAR MORTGAGE TERM The obvious difference between the two is the repayment period.

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n our last article, I introduced mortgages, and I also discussed which mortgage is right for you. If you haven’t had a chance to read my previous article, check out our last month’s publication of The Power Is Now Media National Magazine here. This month we focus on mortgage terms.


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Articles inside

Thanksgiving Day

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pages 134-138

Veteran’s Day

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The Role Of Lenders in Increasing Minority Homeownership

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Here’s how to help your kids cope with a move, by Joe Fisher.

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Analysis: Two Months After Moratorum’s End, How is the Foreclosure Activity

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National Epilepsy Month

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Why is it mandatory in California when you finance a house to get insurance?, by Success Money.

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National American Indian Heritage Month

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L.A’s topmost affordable neighborhoods, by Adrian Bates.

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Four Legal Problem Areas In Real Estate

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Fireproofing your house in Whittier, by Briana Frazier.

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Tips For Buyers: Are You asking Your Agent all the right questions?, by Cornelius Jackson.

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San Diego Housing Market Statistics for Q4, 2021, by Denise Matthis.

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How to avoid falling victim to fraudsters in the homebuying process, by Danon Burnside.

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Meet Alana McCargo, President of Ginnie Mae.

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How to get a good deal during the holiday season, by Robert Langston.

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Real estate market update: A Snapshot of Corona Housing Market, by Jenny Gonzalez.

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The True cost of selling a house (What’s your net?), by Ruby Frazier.

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Here are some of the things that will affect your home’s resale value, by Kamesha Keesee.

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Arizona Housing market Insights for Q4 2021, by Peggie Simons.

5min
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5 red flags Veterans and Military homebuyers in Arizona should watch out for when buying a home, by Yvonne McFadden.

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Which mortgage is right for you? Part Two. Understanding the Types of Mortgage Terms, by Sharon Bartlett.

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What do you do when you have multiple offers (and are all good?), by Adriana Montes.

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Here’s how to prepare yourself for homeownership while renting, by Johnnie Morine.

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Commercial Real Estate in the Digital Age: Is Customer service as important, by Steve Peterson.

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How to value your home accurately in San Francisco, by Norman Green.

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Do you know how to spot a rental assistance scam in Maryland?, by Emerick Peace.

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Some words on Dave Shappelle, by Gary Acosta.

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Re-imagining Rural America: Reviving Our Communities by Tapping and Leveraging Community Assets

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Clubhouse 101: A Real Estate Agent’s Guide to the Newest Social Networking App

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California’s High Cost of Housing: Cost and Consequences to the Economy

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PropTech: Does The Industry Fully Understand The Massive Potential of this

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Survey: How Have Landlords Survived During The Pandemic?

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Tech On Climate: Facebook’s New Sustainability Goal To Restore more water than it uses by 2030.

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