Your ERA Kraus real estate agent can help you determine and find the best type of mortgage for your family. Your agent will have access to information on mortgage rates and programs offered by financial institutions in your area. We'll be able to explain the features and benefits of fixed rate mortgages, Adjustable Rate Mortgages (ARMs), FHA/VA loans, Graduated Payment Mortgages (GRMs) and balloon loans.

• 30 Year Fixed Rate - Most common mortgage in the U.S. It's a particularly good investment when rates are low.
• 15 Year Fixed Rate - Excellent option for middle aged and older buyers
• ARM - Good option for buyers whose income will rise and/or when interest rates are expected to drop.
• FHA/VA - Good option for first time buyers with little to invest in a down payment.
• GPM - Another good choice for buyers who expect income to rise substantially after purchase.
• Balloon - Designed for buyers who plan on moving within a few years and/or are confident in the short term appreciation of a property.

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