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If you were an advisor, what would you tell a client to do to stay out...

If you were an advisor, what would you tell a client to do to stay out of financial trouble before he makes the decision to buy a house using your selected mortgage?

- there's no other info on this question, I assume i have to choose among the various forms of mortgages {i.e.; conventional/fixed-rate/bi-weekly/graduated. But i have zero info to go off of because the book for my online class does not have the adequate information i need to make this decision.

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Answer #2

There are various type of mortgages available in market , suitability of mortgage depend upon the need and income flow of client . for the person ,who started his career and would like to buy his first home ,the graduated payment mortgage(GPM) can be the best suitable option .

GPm is a special kind of fixed mortgage , where monthly loan payment increase on annual basis with a fixed rate untill reached the decided limit. generally the loan payment increase with increase in income of person , such feature increase the acceptabilty of such loan in young generations.

Conventional and fixed rate loan may be suitable for mid age group person.  

answered by: anonymous
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