Looking to secure a home mortgage? We can help!
There are very few people who are in a position to buy a home outright, which means that for most prospective buyers, securing a home mortgage is a key step in their journey to homeownership. If you’re looking to buy a home in or around the Bedford, Texas area, our team here at Harbor Mortgage Company is ready to assist you on your journey, providing the insights, assistance, and support you need to get the home of your dreams.
As the name suggests, a home mortgage is a specific type of loan that is designed to allow individuals to purchase a home. With a home mortgage, you borrow money from a lender to buy a house and then pay the lender back over a set period of time. The typical setup is that you pay monthly installments, with interest, until the loan is paid off. The key components of a home mortgage include:
- Principal — This is the original loan amount that you borrowed to purchase your home.
- Interest — Borrowing money comes with a cost, called interest, which is expressed in a percentage rate.
- Term — This is the length of time over which you agree to pay the mortgage back. Common loan terms include 15, 20, and 30 years.
- Monthly Payments — This is what you pay back each month. The payments can be fixed, meaning they stay the same for the duration of the loan and are a steady, predictable payment, or they can be adjustable, meaning the interest rate may change over time based on the market.
Whether you are a first-time buyer or you’re looking to add to your investment portfolio, we’re here to be the guiding light you need. Reach out today to learn more!
At Harbor Mortgage Company, we offer home mortgage loans to those in Savannah, Bloomingdale, Fort Stewart, Garden City, Georgetown, Hinesville, Pooler, Port Wentworth, and Richmond Hill, Georgia, as well as Bedford, Carrollton, Colleyville, Coppell, Flower Mound, Grapevine, and South Lake, Texas.