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Albuquerque Real Estate Information: Mortgages
Fixed-Rate Mortgages

15-Year Fixed-Rate: This shorter-term mortgage will save you a significant amount of interest over the life of the loan. By paying off the mortgage more quickly, you also build up equity in your home sooner. This may be important if you are approaching retirement or have other large expenses to cover, such as financing your children's education. However, the monthly payments you make on a 15-year mortgage will cost you more than those you would make on a 30- or 20-year loan.

Further Information:
About Mortgages
Mortgage Amount and Term
Amortization
Fixed or Adjustable Interest Rates
Down Payment
Closing Costs
Discount Points
Conforming and Nonconforming Loans
Fixed-Rate Mortgages
30-Year Fixed-Rate
20-Year Fixed-Rate
15-Year Fixed-Rate
Adjustable-Rate Mortgages (ARMs) (page 1)
Adjustable-Rate Mortgages (ARMs) (page 2)
Adjustable-Rate Mortgages: CD-Indexed ARMs
Adjustable-Rate Mortgages: Treasury-Indexed ARMs
Adjustable-Rate Mortgages: Cost of Funds-Indexed ARMs
Adjustable-Rate Mortgages: Initial Fixed-Period ARMs
Adjustable-Rate Mortgages: Two-Step Mortgage
Government Loans and Programs (General)
Government Loans and Programs: FHA Loans
Government Loans and Programs: VA Loans
Government Loans and Programs: RHS Loans
Government Loans and Programs: State and Local Loan Programs
Balloon Loans


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