you prefer regular mortgage payments with no surprises? Plan on staying in your
home for a long time?
There are fixed monthly payments for the life of the loan.
Protection from rising interest
For the life of the loan-- no matter how high market interest
rates go up-- your rate remains the same.
You can lock in the mortgage interest rate during the construction
period for up to one year, with the opportunity to secure a lower rate if rates
In comparison to other mortgage options such as ARMs and
for people who:
regular payments with no surprises
on limited or fixed incomes
to stay in their homes a long time
purchasing or refinancing at a time when interest rates are comparatively low
mortgages (also known as F.R.Ms) offer the same interest rate, monthly principal
and interest payment throughout the entire term of the loan. A-Debt-Consolidation-Loan.com's
Home Mortgage Dept. offers a variety of terms in both government conforming and
jumbo loan amounts. The longer the term, the lower the monthly payments and the
more cash you'll have for other expenses. With a shorter term, you'll have higher
monthly payments and you'll qualify for a smaller loan amount, but you'll save
on interest costs over the life of the loan and build your equity faster. The
fixed-rate mortgage loan is the "traditional" choice and is still the most popular
because it offers stability and predictable monthly payments.
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