I Just compared interest rate for the 10/1 arm rate and 30 year fixed. For loan amount $200,000, 20%down. 10/1 Arm rate at 4.5%, lender one time charge is...
Read MoreWhat is Fixed Rate Mortgage? A fixed-rate mortgage (FRM), often referred to as a “vanilla wafer” mortgage loan, is a fully amortizing mortgage loan where the interest rate on the note remains the same through the term of...
Read MoreWhat is Adjustable-Rate Mortgage? A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index...
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