Debt Consolidation: Better ways to structure
Should I choose a fixed rate or adjustable
Fixed rate loans have a stated interest rate that does not
change over the life of the loan, whereas the rates on
adjustable rate loans are linked to an index and change as the
index rate changes. Many mortgages, such as a 5-Year Fixed (30
Year), start as a fixed rate loan and then convert to an
adjustable rate. Adjustable rate loans have more risk due to the
possibility that the interest rate could increase. However,
because you are assuming some of the risk the lender will
generally reward you with a lower interest rate. These loans are
best for borrowers who do not plan on keeping the loan for the
Should I consider an Interest-Only loan
Interest-Only loans are a good means of either increasing your
home purchasing power or maximizing your flexibility to control
cash flow. You can save significant amounts of cash for
investment, savings, or other expenditures during the first ten
years of your loan. This is also a solid strategy to maximize
tax deductibility, with more funds available for paying down
higher cost, nondeductible consumer debt. With these loans, the
minimum payment required covers interest only-you decide how
much or how little of the principal to repay each month. These
loans should not be confused with negative amortization
loans-with Interest-Only the principal balance NEVER increases.
Is a Closing Cash Saver loan for me?
Closing Cash Saver loan is designed to provide you with a rebate
to cover your non-recurring closing costs. While these loans are
most commonly associated with refinances, they can also apply to
purchases. Closing Cash Saver loans will generally have a higher
interest rate than loans in which you pay closing costs out of
pocket. Consequently they are a good option for
How can I be sure my mortgage choice will
be the best financial option?
Outlook Finance believes that you should treat your mortgage as
an investment. For most people their home will be their biggest
investment for the future. A mortgage payment is a type of
"forced saving" that many people will count on for retirement.
In addition, the tax savings from writing off the interest will
greatly reduce the yearly cost of your mortgage payments.
What is the process for getting a loan?
The loan process is slightly different for every person, and at
Outlook Finance we recognize that each loan is unique. However,
there is a pattern to the loan process, and you should know what
to expect before you decide to apply. At Outlook Finance, your
mortgage is assigned a loan consultant who will personally
assist you through the entire process and help you close your
loan in as little as 21 days.
To talk to a loan consultant now call 866-866-0242
What types of loans does Outlook Finance
Outlook Finance offers a wide range of products to meet all your
financing needs, from 30-year fixed rate mortgages to adjustable
rate mortgages and home equity loans for both purchases and