It can be risky. If the borrower fails to pay back the lender can take the property
Thank you for your comment, Kimberly.
You’re welcome
My parents bought with a fixed rate. Even with the fixed rate; their mortgage payments went up. They had excellent money to as a down payment. Mortgage prices can run the gamit of the stock market
It is a risk.I also did attempt to go into the a t industry but the financial meltdown of 2008 happened, making me look for other work. People should exercise caution in dealing with this type of loan.
It depends on how much your down payment is and whether its fixed or variable…I would hope it would be fixed rate if thats the route you choose to get a mortgage