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Finding the Best Mortgage

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From Quick Guide: Basics of Mortgage Loans

Summary: To find a mortgage that's best for you, understand your financial goals and responsibilities. Discover how to plan a mortgage with expert tips from a registered financial consultant in this free video on financial planning.

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By Patrick Munro
eHow Presenter

Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more

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Video Transcript

"This is financial adviser Patrick Munro discussing what mortgage is best for me. It's important for individuals to look at the purchase of a house as a long term commitment although most Americans move out of their house every five to seven years. A mortgage is a tool that a financial institution will use to allow you to get into your home. When you make a decision as to what mortgage is good for you you have to decide whether you are going to be in the home long periods of time in which you'll want a thirty year fixed mortgage or if you are going to be in a short period of time, in which case you would be in a fifteen year mortgage, that's the smallest you can get. Also if you have strong cash flow you could choose to have a fully amortized mortgage where you are paying principle interest and taxes or if you have the ability and your house is in an area that's growing and appreciating rapidly you can get a bigger house for an interest only loan. This is Patrick Munro financial adviser discussing which mortgage is best for me."

eHow Article: Finding the Best Mortgage

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