The American mortgage
Chapter 1
The birth of the 30-year loan
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Chapter 2
How the money actually flows
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Chapter 3
The invisible giant in the background
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Chapter 4
Navigating your mortgage choices
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YOUR GOAL
Master of The American mortgage
Ch 4 · Navigating your mortgage choices
sloane American Mortgage Choices
Fixed rate, fixed rate, Stayin' on track! Same payment, There's no turning back!
Fun Fact
Credit impact: A simple 1% difference in your mortgage interest rate can cost or save you over $70,000 on a typical home loan.
Glossary
mortgage (noun)
A legal agreement by which a creditor lends money at interest in exchange for taking title of the debtor's property. American buyers selecting their loan terms typically choose between fixed-rate and adjustable-rate agreements.
A legal agreement by which a creditor lends money at interest in exchange for taking title of the debtor's property. American buyers selecting their loan terms typically choose between fixed-rate and adjustable-rate agreements.
Quiz
What is the main benefit of a 15-year fixed mortgage over a 30-year fixed mortgage?
Quiz
Why might a home buyer choose a fixed-rate mortgage over an adjustable-rate mortgage?