Loan Inspector Interview Question:

Explain me me four different types of mortgages and why a client would select each one?

Submitted by: Muhammad

Fix loan (wants to keep the house for a long time wants to have a monthly fix amount for payment), Adj loan (is not planning to keep the house for long term), balloon loan (want to pay lower monthly payments and pay a larder payoff, heloc (wants to draw funds as needed)
Submitted by: Muhammad