Types of Financing
In addition to determining which type of loan is best suited for your needs, Cambridge Mortgage will work with you to determine which type of financing is most advantageous to your situation. Loans are typically available in these major catagories
Fixed
The interest rate is fixed over the life of the loan.
Adjustable Rate
Interest rates are locked in for various number of months or years. At the end of that period, interest rates will adjust up and down changing your monthly payment.
Balloon
Begin with lower initial monthly payments with a ‘balloon’ payment of remaining balance at the end of the loan term.