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Kelly’s FIRST BOOK just published,"Get the Best Deal When Selling Your Home," with co-author Ken DeShaies. Click “View All Offers” below!
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FREE MARKETING PRESENTATION ABOUT YOUR HOME! Before signing a contract with any REALTOR®, make sure you know EXACTLY how your home will be marketed. Find Out More > View All Offers >
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Financing Your Home >Hybrids Offer Low Rates
In the field of home financing, "hybrid" mortgages have grown in popularity with homebuyers. With interest rates gradually rising in today's market, the hybrid mortgage product saves money, provides a period of fixed-rate security and helps buyers qualify for financing.
Hybrid mortgage loans offer a very low fixed-rate for a period of time, usually from 5 to 7 years, then revert to an adjustable rate mortgage (ARM) for the remainder of the term of the loan. The interest rate is typically lower than with a 30-year fixed-rate loan, and the borrower has the assurance that the rate will not change for a period of years. Such a loan works well for buyers who plan on reselling the home within a finite period.
Other specialty mortgages now available include an ARM loan with a provision allowing it to be converted to a fixed-rate loan when that is a practical step for the borrower. Still others offer an interest-only loan that requires payments to be made on the interest only for a specified number of years, then reverts to an amortized loan with interest and principal payments each month. Consult with an experienced mortgage professional to determine whether one of these loan products will meet your needs.
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| Q |
What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?
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| A |
One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million. |
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Call Kelly today
at 1-800-567-2279 OR 919-859-8889 for your FREE copy of "What You
Need to Know 6-12 Months Before Selling Your Home!"
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FEATURED PROPERTY
105 Whitlock--Cary Pkwy~Preston ! (J&S)
$3000 Price Reduction + $2000 Seller paid Closing Costs!!!
Popular Inside the Parkway location Meticulously Maintained and Sparking Clean! 3 Bedroom 2.5 Bath with 18'x17' Bonus overlooking brick Patio with Fountain.
Location: 105 Whitlock Lane, Cary
Price:
$296,900 Under Contract!!!
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Jodi Bakst, Realtor Jodi is a realtor and friend who specializes in Chapel Hill, Durham and Raleigh Real Estate Find Out More >
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