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Author Topic: Define two-step mortgage  (Read 960 times)

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Define two-step mortgage
« on: September 15, 2010, 03:23:07 PM »
A two-step mortgage, like its name implies has two different parts to it. Often called a hybrid loan, it combines some of the features of both types into a typical 30-year mortgage. The first part of the mortgage, which is usually either 5 or 7 years, has a fixed rate so that the interest and payment stay the same. This part of the loan is typically lower than the market value giving the buyer some savings during this time. - read more at http://www.getthebestinfo.com/Article/What-Is-A-Two-Step-Mortgage-/53247

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