Lorriehastru…, Home Buyer in San Francisco, CA

I know there are lots of different types of mortgages – how do I know which one is best for me? How do I compare everything!!!???

Asked by Lorriehastruck, San Francisco, CA Thu Mar 7, 2013

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Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Thu Mar 7, 2013
How long do you plan to keep this house?
Would sleep better a night if you have a 30 yr fixed with a higher rate but with the advantage of knowing what your mortgage payments are going to be for the next 30 yrs and knowing that your loan would have been fully amortized by then.
Or Are you willing to pay a little bit less for a rate that might only be guaranteed for a shorter period of time (5, 7, or 10 yrs)
1 vote
David Tapper, Agent, Burlingame, CA
Thu Mar 7, 2013
It depends on if you are a risk taker, payment buyer and how long you plan on living there. If you want the lowest payment, you can either take a5, 7 or 30 year fixed. If you want the lowest rate, you might go with a 15 year mortgage.

Tell us a little more about yourself so we can better understand your situation?

Best of luck!

0 votes
Gregorio Den…, , San Diego, CA
Thu Mar 7, 2013
The simple answer is to find a good loan officer that will walk you through the process without all the added "fluff."
0 votes
Lizete Santos, Agent, San Francisco, CA
Thu Mar 7, 2013

This is a prime example of why you want to select the right lender to assist you with financing.
He/she can crunch the numbers for you and discuss the options that are best for your individual needs. For example there are short term ARMs that offer adjustable rates and then there are 15 or 30 mortgages that are fixed for the entire loan term. You'll also have conventional and government financing as an option. Ultimately you should select the loan type that you determine is in your financial best interest.

Here are some calculators to help you in the process:

Here is a referral to a local lender:

May Montana
Sr, Mortgage Advisor
123 Mission Street, Suite 850
San Francisco, CA 94105
P: 415-710-6651
F: 415-593-89

Let me know if you have any further questions.

Web Reference:  http://www.LizeteSantos.com
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