Deciding between a fixed-rate mortgage and an adjustable-rate mortgage (ARM) depends on your finances, Spending habits and lifestyle. For example, how long do you plan to stay in your home, how confident are you in your knowledge of the economy and can you afford any changes in your monthly mortgage payment?Read more
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Fixed-rate mortgages are predictable.
Consistent monthly payments are a great feature of fixed-rate loans. That's why they could be just the ticket if you plan to stay put for a while.
Interest rate remains the same for the life of the loan
Simple to understand especially for first-time buyers
Potential to pay more interest over time if you lock in when rates are high
Refinancing closing costs can add up if you plan to take advantage of falling rates in the future
Buying a house is an exciting proposal, providing some equity and stability in your life, but how much can you really afford, regardless what the lender says you're qualified for?Read more
If you want to pay less for your next home, having a good credit score is key. You may end up with a lower mortgage rate, less expensive mortgage insurance and even more affordable homeowner's insurance. Here's how to help improve your credit score to get the most for your money when buying a home.Read more