Chances are you’ve heard interest rates are low. If you currently own a home, you’ve likely received solicitations to refinance at a lower interest rate or to lower the term of your mortgage. But how do you know if refinancing is a good idea? How do you measure the benefit? Let’s dive into these questions […]
ReadMortgage Loan Types
► Fixed Rate Mortgage The traditional fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule […]
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