new house?

[messengerhot]

I am looking to loan a new house. Do you know any firm that can help me pay for approximately 10 to 20 years without increasing the cost? I live in a small room with my family and I think its time to step up a bit. I know its hard for me especially my salary is not that big. Any recommendations? TY

[printslicker]

Hi! Have you tried asking your bank? Sometimes they give good deals.

[iris lilies]

Most mortgage companies will give a 20 year mortgage at a "Fixed rate." Your payment amount is the same every month for 20 years.

Do you have someone helping you buy a house? This is where a good real estate agent will help you a lot, they usually know the best mortgage rates in town.

[messengerhot]

This is my first time to engage with this kind of transaction or negotiation. I hope you can give me details that I need. Anyway, I don't have a person to help me but I would appreciate if you could refer someone.

Also, my friend gave me this website (https://www.calcoastcu.org/borrow-home-purchase-fixed-rate-mortgages.htm) to check on and I am still carefully reading the details. I hope it would help solve my concern. :)

[iris lilies]

I cannot give you a name of someone to help you because I dont know where you live. Are you buying in California? Can you afford California real estate? Do you know how to determine if you can "afford" it? What are your thoughts on how much you will spend on a property?

This is very general informatin: a typical mortgage is a fixed rate mortgage for 30 years. If you want a way to pay it off earlier, read your mortgage agreement carefully about pre-payment penalties, paying extra principle, or other ways to cut a 30 year mortgage.

You could also get a mortgage for a shorter period, and you may need help in finding a company that will write a mortgage for 10, 15, or 20 years.

Your questions sound a bit naive, and I am assuming that perhaps English is not your first language. But is it always good to ask questions!