Fixed Rate Mortgages State Employees’ Credit Union
Whatever it is, there’s always a reason to spend that money somewhere else. But doing that is really no different than choosing a 15-year mortgage in the first place. Besides that, choosing to make those extra payments would be up to you. Not to mention that, as we talked about earlier, the interest rate for […]
Adjustable-Rate Mortgage Loans ARMs from Bank of America
For this example, we’ll deal with a hypothetical $400,000 loan amount and assume the loan comes with a 2% cap for every rate adjustment and a 5% lifetime cap. The images below compare their payments and rates over time. Generally, an adjustable-rate mortgage gives you a lower rate than a 30-year fixed-rate loan. As of […]