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Grapevine Mortgage
The amount, type, term and type of rate of your Grapevine mortgage loan will determine your mortgage rate and payments. The decision to opt for a fixed or adjustable rate mortgage depends to a great extent on your financial condition, how long you intend to stay in the house and your propensity for risks. Though adjustable rate mortgages are risky with the potential of increased payments in future, it is ideal for those who prefer lower initial rates and payments, shorter periods, larger loan amounts and the option of lowering payments when rates decrease. Margin, index, interest rate caps and maximum rate will help you decide whether this is the right option for you.
The following table features housing preferences and mortgage trends in Grapevine.
Grapevine Mortgage Statistics |
| Mortgage-Free Homes |
10% |
| Mortgaged Homes |
90% |
| With First Mortgage Alone |
77% |
| Second Mortgage or Home Equity Loan |
13% |
| Home Equity Alone |
4% |
| Second Mortgage Alone |
8% |
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| Grapevine Housing Expenses |
| Owner expenses as % of Income |
19% |
| Median Real Estate Taxes |
$3,178 |
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| Grapevine Housing Stocks |
| Median Year Constructed |
1986 |
| Year Constructed - Owner Occupied |
1986 |
| Year Constructed - Renter Occupied |
1985 |
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| Grapevine Housing Market Data |
| Median Household Income |
$42,591 |
| Total Housing Units |
9,604 |
| Average Home Price |
$193,071 |
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