Know Your Interest Rates: A Crash Course
There are several different types of interest rates when it comes to mortgages. The two most common types are fixed and adjustable. They mean exactly what they are defined as. A fixed interest rate is locked in for the life of the loan. However, if...
Variable Interest Rate versus Fixed Rate Mortgage: Which is Right for Me?
Take a deep breath, you’ve come to the right place. Let’s get you educated on variable/adjustable interest rate mortgages (ARMS) and fixed rate mortgages so you can embark on your home buying journey feeling confident, informed, and optimistic. I can tell you now that a...
The Sooner You Know Where Your Mortgage Interest Rate Comes From, the Better
As you probably know from fooling around with a mortgage calculator, the interest rate on your mortgage loan is critically important. If the interest rate on a 30-year, $290,000 mortgage loan decreased from four percent to three percent, it would result in a savings of...