Fixed Rate Mortgage
This is the most popular type of mortgage. This type locks in a fixed rate for the life of your loan and offers you the security of a principal and interest payment that stays the same no matter how the market changes.
Adjustable Rate Mortgage
This type of mortgage, commonly referred to as an "ARM", offers the flexibility of adjusting your interest rate according to the market. It takes advantage of current low rates and locks those in for a set period of time. After that initial period, your rate will adjust to current market rates and may be higher or lower than your initial rate.
There are many financial decisions involved in purchasing or refinancing a home. We will help you make the right choice with confidence.
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