Some common types of mortgages are as follows:
Fixed Rate Mortgage
The most standard type of loan, your interest rate will stay the same throughout the entire term, allowing you to plan your budget around payments without unexpected changes.
Adjustable-rate (ARM) Mortgage
With this setup, your interest rate will be periodically adjusted based on the interest rates of the market. This is riskier than the above, but does allow for lower initial payments, making it a good choice for borrowers who expect their income to go up over time.
FHA (Federal Housing Administration) Loan
Americans with lower income may be eligible for federal assistance to help them purchase a home.
This type of loan is available to veterans, surviving spouses, and current members of the U.S. Armed forces.
Both Mischele and Gary went of their way to make our purchasing experience effortless and enjoyable. The Fribergs made sure that all everything from the house inspection through to signing the papers with the title company were in order.
After we purchased our home, we listed our home in Sun City West with them. Through the selling process they gave us guidance and sound advice on what we needed to do to help us sell the home. The house sold in less than 3 weeks. Once the offer was made on our home they, again, made sure the transaction went smoothly.
We have brought and sold a number of homes and have dealt with a number of different realtors throughout the years. In our opinion, Mischele and Gary Friberg are by far the most professional realtors we have ever dealt with. They both work extremely hard for their clients and we do not hesitate to recommend them to anyone buying or selling a home.