The Carvajal Group Blog

What should you consider when taking out a mortgage on your new home purchase

April 22nd, 2010

When individuals consider buying a home, they often need to take out a mortgage. While many people judge mortgages based on interest rates, there are a number of other factors they could consider.

Many home mortgages contain fees that will individuals will have to pay when the mortgage agreement is closed. Many mortgages are often structured over certain periods of time, called terms. The most common terms are 15- or 30-year mortgages.

Even after the term is set, many mortgage contracts contain provisions for adjusting the mortgage term and interest rate in the future. These provisions often depend on future market conditions.

If you have questions about an Austin real estate purchase, contact theĀ  Carvajal Group at 512-410-7770.

Tags: Austin Real Estate · Austin Real Estate Agent