Selecting your rate is one of the first steps to achieving your dreams of financial freedom.
There are many factors involved when shopping for your mortgage. Of course, rates are top of mind for everyone involved, but the lowest rate isn’t always the most important factor.
Here’s what you should know about fixed and variable rates…
With a fixed rate mortgage, your mortgage rate and payments are fixed, meaning the amount you pay each month will stay constant for the term of your mortgage.
With a variable rate mortgage, the mortgage rate will change with the prime lending rate, as set by your lender.
These are just a few key points to keep in mind as you consider fixed versus variable rates, and what the differences could mean for your monthly mortgage payments.
At the end of the day, our main objective is to help you become mortgage free, faster.
You can trust us to read the fine print and cut through the jargon for you. We’re here to provide you with clarity and expert insight, so you feel equipped to make a sound financial decision.