DeVries Real Estate

406.375.0088 Bitterroot Valley Real Estate Leader sold@BrookeDeVries.com

Mortgages for my situation

The right type of mortgage for you will depend on many different situations.

1.)Your current finances
2.)Will your finances be changing?
3.)How long will you be keeping the home?
4.)Are you comfortable with your mortgage payment changing?

An example would be, if you choose a 30 year mortgage your payments would be lower but you will have to make the payments for a longer time period as opposed to a 15 year loan with higher monthly payments yet one can save many thousands of dollars in interest payments over the life of the loan. Adjustable rate mortgages can get you started with a lower monthly payment than a fixed rate mortgage but payments can get much higher when interest rates change.

The right answer for you will only come with an honest conversation with a mortgage professional.