Скачать или смотреть What is the difference between fixed-rate & adjustable-rate mortgages?

A fixed-rate mortgage is a mortgage in which the interest rate is fixed for a certain period. This means that the monthly payment will stay the same throughout the life of the loan.

The most common mortgage types are fixed-rate and adjustable-rate mortgages (ARMs). With a fixed-rate mortgage, the interest rate and monthly payment stay the same for the loan’s entire life. This can be advantageous because it provides certainty and predictability.

With an ARM, the interest rate may change periodically, which could also cause one’s monthly payment to change. So, someone who opts for an ARM may benefit from lower interest rates initially, but there is always a risk that rates will go up in the future.

Fixed-rate mortgages can be a good choice for people who plan to stay in their homes for a long time, as they provide stability and predictability. ARMs can be attractive to those who are looking for lower payments initially, but may not be able to handle the potential increase in their payments if interest rates go up. Ultimately, it's essential to understand the advantages and disadvantages of each type of loan before making a decision.

Adjustable-rate mortgages offer borrowers a lower initial interest rate than fixed-rate mortgages, but the interest rate can change over time depending on prevailing market conditions. This type of mortgage can be a good choice for borrowers who want the flexibility to change their monthly payments in response to changing economic conditions.

If you’re in the market for a mortgage, it’s essential to understand your options. Stone Tree Lending is here to help make the process as easy as possible for you. We offer a variety of mortgages to meet your needs, and we’ll work with you every step to ensure that you get the best deal possible. Contact us today to learn more about our products and services, or visit our website to apply online. We look forward to helping you achieve your homeownership goals!


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