Fixed vs ARM Mortgage: what's the difference?
- Racheli Refael Smilovits
- Jun 26, 2024
- 1 min read
Buying a home? Let's talk mortgages!
Fixed vs ARM Mortgage: what's the difference?
Fixed Rate: This option offers stability with a locked-in interest rate for the entire loan term. This translates to predictable monthly payments, making budgeting a breeze!
Adjustable Rate: ARMs entice with a lower starting rate, potentially saving you money upfront. However, the rate adjusts after a set period (typically 3-7 years) based on the market. This flexibility can be good if rates go down, but beware of potential increases!
Confused? Don't fret! A mortgage lender can help you analyze your financial goals and risk tolerance to find the perfect fit - fixed or flexible! #RealEstateInsights #MortgagePlanning #FinancialLiteracy
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