In the field of home financing, "hybrid" mortgages have grown in popularity with homebuyers. With interest rates gradually rising in today's market, the hybrid mortgage product saves money, provides a period of fixed-rate security and helps buyers qualify for financing.

Hybrid mortgage loans offer a very low fixed-rate for a period of time, usually from 5 to 7 years, then revert to an adjustable rate mortgage (ARM) for the remainder of the term of the loan. The interest rate is typically lower than with a 30-year fixed-rate loan, and the borrower has the assurance that the rate will not change for a period of years. Such a loan works well for buyers who plan on reselling the home within a finite period.

Other specialty mortgages now available include an ARM loan with a provision allowing it to be converted to a fixed-rate loan when that is a practical step for the borrower. Still others offer an interest-only loan that requires payments to be made on the interest only for a specified number of years, then reverts to an amortized loan with interest and principal payments each month. Consult with an experienced mortgage professional to determine whether one of these loan products will meet your needs.

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Steve Hawkins has over 30 years of business experience to help people make their real estate dreams a reality. The chance to guide people through one of life’s biggest investments excites and challenges me. I represent each client’s individual desires and agenda throughout the real estate transaction while making it as easy as possible from beginning to end. My energetic and competitive nature assists me in negotiating a sale or purchase in my client’s best interest. I attribute my sustained success in real estate to my perseverance and commitment to each of my clients until they are completely satisfied with their real estate buying or selling experience. Allow me to join your team and together we will be sure to create a winning combination.

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