A fixed rate loan offers predictable, easy to amortize payments and protection against rising interest rates. As the name implies, the interest rate on a fixed rate mortgage is fixed for the term of the loan.
The decision to go with a fixed rate mortgage or one with a variable interest will depend upon your personal situation. Fixed rate loans offer the certainty of always knowing what your loan payments will be.
The interest rate will remain the same from the time of origination to the end of the mortgage loan term.
Nobody knows the direction of current mortgage rates; a fixed rate loan protects you from rising rates.
Fixed payments bring a level of certainty to your expenses for housing.
Fixed rate loans are relatively easy to compare among different lenders when shopping for a mortgage.
Your interest rate and the other terms of your mortgage are fixed, regardless of the direction of home mortgage rates or what is happening to the economy.
A fixed rate loan is easy to understand. You don’t have to understand the adjustment triggers or any similar features. The payment and the term are fixed, period.
Sunrise Mortgage Group provides you with the tools you need to make the right borrowing decisions. These calculators may borrowers in determining different values in the loan process. Try to ensure the information you enter is as accurate as possible.
Together, we’ll find great mortgage solutions.
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