In the field of home financing, "hybrid" mortgages have grown in popularity with homebuyers. With interest rates gradually rising in today's market, the hybrid mortgage product saves money, provides a period of fixed-rate security and helps buyers qualify for financing.

Hybrid mortgage loans offer a very low fixed-rate for a period of time, usually from 5 to 7 years, then revert to an adjustable rate mortgage (ARM) for the remainder of the term of the loan. The interest rate is typically lower than with a 30-year fixed-rate loan, and the borrower has the assurance that the rate will not change for a period of years. Such a loan works well for buyers who plan on reselling the home within a finite period.

Other specialty mortgages now available include an ARM loan with a provision allowing it to be converted to a fixed-rate loan when that is a practical step for the borrower. Still others offer an interest-only loan that requires payments to be made on the interest only for a specified number of years, then reverts to an amortized loan with interest and principal payments each month. Consult with an experienced mortgage professional to determine whether one of these loan products will meet your needs.

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Hi, my name is Dan DeYonker with RE/MAX First. Welcome to Macomb, Wayne and Oakland counties in the beautiful state of Michigan. I am a full time realtor and an industry leader in South Eastern Michigan! I specialize in existing home sales, new construction, vacant land and commercial properties. I have been a full time professional since 1994. I am proud to rank among the top 1% of all realtors nationwide. My philosophy is to treat all of my clients how I would want to be treated. I want to share with you my expert knowledge and experience. Please use my site to provide yourself with up to date information about Macomb, Oakland, Wayne and St. Clair counties in SE Michigan, and Metro-Detroit. If your looking to buy or sell a home in these areas or you are relocating across town, in or out of the state, the U.S., or the world you can call Dan "Your Real Estate Man" Toll free at 1-877-557-1234.

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