|
Loan Programs
What loan program are you actually in?
A lot of borrowers know their interest rate but aren't sure what type of loan they have—or why it matters. You might be in a fixed-rate mortgage, an ARM, an FHA loan, a VA loan, or something else entirely. Each one works differently and carries different rules about things like refinancing, prepayment, and what happens to your payment over time. Understanding your own loan is the first step to making smart decisions about whether to refinance, how much you can borrow, or what your financial picture looks like in five years. If you're not sure which one you're in, I'd be happy to walk you through it and explain what that means for you. Reach out anytime—I can explain your loan in plain terms.
|