Tag Archives | fixed rate

ARM vs. Fixed-Rate Mortgage: Which is Best for You?

ARM v FixedChoosing the right mortgage depends on your budget and time frame.

A fixed-rate mortgage offers the comfort and security of fixed costs that will not change over the life of the loan. Thirty years is the most popular term for a fixed-rate mortgage. But if you can afford the higher monthly payments, you can save tens of thousands of dollars in interest over the life of the loan by choosing a shorter term of 20 or even 15 years. Read More

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How Do I know When to Refinance?

With the potential for interest rates to rise in the coming months, is now the time to consider refinancing your current home loan? There are many reasons why you may want to refinance your loan, but the best way to decide if you should refinance is to compare the numbers. What will your monthly payments be with the new rate? How much will you save each month over what you are paying now? How long will it take you to recoup the costs of refinancing? Read More

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