What's the difference between a fixed-rate and an adjustable-rate mortgage (ARM)?
With a fixed-rate mortgage, the interest rate stays constant during the entire loan term. This provides predictability and consistency in monthly payments, making it an excellent choice for those seeking stability.
On the other hand, an adjustable-rate mortgage (ARM) starts with an initial fixed-rate period, followed by rate adjustments at predetermined intervals. While it often starts with lower rates, it can fluctuate, possibly affecting monthly payments.
The choice between the two depends on factors like financial goals, risk tolerance, and the existing interest rate environment. Mortgage brokers help clients align their mortgage choice with their financial goals, whether it's stability or initial affordability.
Wave Lending Group, located in the heart of Puyallup, WA, offers both fixed and ARM options, making sure borrowers make informed decisions customized to their needs.
For more information, give us a call today or visit our website and get your mortgage rate quote in only 30 secs!
https://ift.tt/H13xQoK
from GMB Posts For Location "Wave Lending Group #21751" https://ift.tt/g9HfYnO
via IFTTT
No comments:
Post a Comment