The mortgage market is much more diverse than some borrowers think.
Besides the standard fixed-rate and adjustable-rate mortgages, there are other types of mortgages and ways to finance a home.
Pro: Opportunity to buy larger, more expensive home. Con: Pay a higher interest rate in exchange for the lender's higher risk.
Pro: Opportunity for damaged-credit borrowers to buy homes and to establish better credit. Con: If your credit does not improve, you could be stuck in a high-rate loan for much longer than two or three years.
Mortgage rates giving you motion sickness?
Let us watch for you. We'll tell you when they hit your target.
