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In the field of home financing, "hybrid" mortgages have grown in popularity with homebuyers. With interest rates gradually rising in today's market, the hybrid mortgage product saves money, provides a period of fixed-rate security and helps buyers qualify for financing.

Hybrid mortgage loans offer a very low fixed-rate for a period of time, usually from 5 to 7 years, then revert to an adjustable rate mortgage (ARM) for the remainder of the term of the loan. The interest rate is typically lower than with a 30-year fixed-rate loan, and the borrower has the assurance that the rate will not change for a period of years. Such a loan works well for buyers who plan on reselling the home within a finite period.

Other specialty mortgages now available include an ARM loan with a provision allowing it to be converted to a fixed-rate loan when that is a practical step for the borrower. Still others offer an interest-only loan that requires payments to be made on the interest only for a specified number of years, then reverts to an amortized loan with interest and principal payments each month. Consult with an experienced mortgage professional to determine whether one of these loan products will meet your needs.

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Lacie Maynard
Realty Executives
3479 Gulf Shores Parkway, Ste. B
Gulf Shores, AL 36542
800-760-6019
Fax: 251-968-4340
laciemaynard@NUMBER1EXPERT.com

Always willing to go the extra mile, Lacie's outstanding attention to detail has earned her continual referral business as well as a wealth of new business. For nearly a decade, Lacie has been a top listing and selling agent all along the Alabama Coastline. As one of America's NUMBER1EXPERTS™ in the Gulf Shores, Orange Beach and Foley area Lacie is well equipped to guide you through all your real estate needs. Call or email her today!