Subject: Mortgage Tips for Short Term Homeowners

While many people would consider a home a long- term commitment, some
people buy homes to generate a profit or for other planned short-
term purposes.

The rules of the game can change somewhat for people who plan to be
in their homes for only a few years.

Some things that can be disadvantages for long-term
investors, may work in the favor of short-term investors.

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One tip to consider for short term investing is interest only loans
if the home value looks promising for significantly
increasing in value.

These types of loans have very low monthly payments because you are
only paying on the interest of the loan. Lets say the home doubles
in value.

You can pay off the loan at the time you sell the house and still
pocket a large profit.

Another tip is to check into negative mortgage points. Long-
term investors pay mortgage points to reduce their long- term
mortgage payments.

Short- term buyers can actually benefit from the negative mortgage
points if they only plan to keep the home for a couple of years.

Why is this? Well, negative mortgage points, or rebates, can
help pay some of the closing costs associated with buying a home.

This can save the short-term buyer money because they will not be
affected by the higher interest rate since they will only be
keeping the home for a couple of years.

The money they make off of the negative mortgage points will be
more than the difference they pay with the higher interest.

A final tip is to consider a Balloon Mortgage. This type of
mortgage generates lower monthly payments because the majority of
the loan is collected at the end of the loans life in a lump sum.

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If the borrower is planning to sell the house before then, he/she
will not have to worry about trying to refinance the balloon
payment but will benefit from the lower monthly payments.

These three tips are a few ways to maximize your dollars for short
term homeowners.

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Thank you,

Max Taylor
http://taylor-marketing.blogspot.com