To help you determine which mortgage loan is right for you. Answer these simple questions below to find out if an adjustable or fixed rate loan is best.
Do you prefer to budget a set payment that never changes from month to month?
Do you plan to stay in your home for more than seven years?
Would you have difficulty meeting your house payments if they increased?
Do you think interest rates are going to rise?
Do you expect only modest increases in your income during the next few years?
If you answered “yes” to most of these questions, a fixed rate mortgage may be best for you.
If you answered “no” to most of these questions, you may want to consider an
adjustable rate mortgage or another type of mortgage loan product. Make an appointment with a
first mortgage professional to help you determine the best mortgage product for you.
