First Time Buyer Mortgages

Many first time home buyers feel that the mortgage process is mysterious and confusing. Selecting a loan for your first home doesn't have to be mystifying. At American Mortgage Specialists, we strive to educate you about your mortgage options, so you can make an informed decision about the loan that is right for you. There are several factors that are important to consider.

Many first time buyers don't know how long they plan to live in a home. If you have some idea of the length of your stay, you can make plans about the payments and the loan accordingly. For example, a young married couple who is planning to stay in the home a long time might choose a 30-year fixed mortgage. An older couple who feels that they're heading for retirement may only want to finance their loan for 10 or 15 years.

If your budget can easily handle changes in your monthly payment, then you can select an adjustable rate mortgage. They usually have a lower starting interest rate than a fixed rate loan. But if you are more comfortable knowing your payment will stay the same over the life of the loan, you may want to select a fixed rate mortgage.

We offer loans to buyers with less-than-perfect credit and even no credit. For more information complete our Quick App, email info@amsaz.com, or call one of our loan analysts at 1-866-385-5450, 9 a.m. to 9 p.m. Mountain Standard Time, today!