Finding the Right Mortgage

Homes listed for sale in the Northern Virginia market have been selling quickly for a few years now, making it difficult for potential buyers to find a new place to live. For the lucky ones who make the winning bid on a home, one question looms large: how do I finance this major purchase? Most turn to mortgages to finance their homes, and with the wide variety of options available, the process of finding the right plan can be almost as tricky as finding the right home. “Interests rates on mortgages are still really low, hovering around 6 percent for a 30-year fixed-rate plan,” said Rick Eul, a mortgage banker with Bank of America in Annandale.

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