Question:

What’s the best mortgage for me?

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What’s the best mortgage for me?

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  1. Your question is like asking "what is the best tool for the job".  Depends exactly what you are trying to do, doesn't it?  Same with a mortgage:  Depends upon your specific circumstances, etc.  In other words your question can't be answered with the information you have provided.


  2. Fixed rate.

  3. The best mortgage for anybody is a fixed rate mortgage.  A mortgage payment should never be more than 1/4 (mortgage only) -1/3 (mortgage, taxes, insurance) of your monthly take home pay.

  4. Get a fixed  rate mortgage open end which means you can pay down the mortgage without being penalized.

  5. stay away from interest only, but depends on many factors

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