US Mortgage

US mortgage loans are provided by the mortgage lenders and the brokers, to borrowers, who want to buy new homes.There are several types of mortgages available in the US mortgage market. In the United States the mortgages are one of the most thriving businesses.

US Mortgage Rates
There are basically two types of mortgages, based on the interest rates. They are the fixed rate mortgages and the floating rate mortgages. The fixed rate mortgages have term periods of 15 years and 30 years. The normal term period of the floating rate mortgages is one year.

The interest rate of the fifteen year fixed rate mortgages is 5.36% and the interest rate of the thirty year fixed rate mortgage is 6.05%. The interest rate of the floating rate mortgages is 3.79%.


US Mortgage Governmental Agencies
In the United States the mortgages are also provided by GSEs, or the Government Sponsored Entities, like the Ginnie Mae, the Freddie Mac and the Fannie Mae. These entities are governed by the Federal Government of the United States.
Through these entities, the Federal Government of the United States tries to support the growth of the mortgage industry in America. The US Federal Government also aims to help more citizens own homes.
US Mortgage Origination
The system of acquiring mortgages in the United States of America is known as origination. According to this system, the borrowers furnish the lenders with their financial details. Some of the United States banks, dealing in mortgages, are offering “no-doc” loans and “low-doc” loans. The specialty of these loans is that the borrower can provide the lender with the least amount of documents regarding their financial status.