Variable Rate Mortgage
Variable
Rate Mortgage
The
variable rate mortgage, affectionately know as Adjusatuble rate mortgage or ARM
is a mortgage with a rate that will adjust over time. You may be familiar
with the term three
year ARM, or five-year
ARM.
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Fixed Rate Mortgage
Fixed Rate Mortgage
A mortgage loan with an interest rate that remains at a specific rate for the entire loan. Approximately 75% of home mortgages are this type.
The mortgage interest rate will remain the same on these mortgages throughout the term of the mortgage for the ...
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