10/17/2022
Mortgage Monday! π‘
What is the difference between a fixed-rate and an adjustable-rate mortgage? π
There are many different types of mortgages offered by lenders. Each mortgage has its own set of qualifications and limitations.
A fixed-rate mortgage offers the borrower stability with a consistent monthly payment. An adjustable-rate mortgage will have a lower initial rate but monthly payments may fluctuate if the interest rate changes.
So, which mortgage is right for you? π€ While fixed-rate mortgages are a more popular choice, an adjustable-rate mortgage might make more sense when interest rates are high!
Reach out and get in touch if you need help exploring the options! π²