Fixed-rate Mortgages Atwater CA

A fixed-rate mortgage is a mortgage where the interest rate is set for the term of the loan. Your interest rate stays the same for the term of the mortgage or for a specified period of time.

Local Companies

Countrywide Home Loans
(209) 356-6000
530 E Bellevue Rd
Atwater, CA
Valencia Financial Services
(209) 358-7450
Atwater, CA
Valencia Financial Services
(209) 358-7450
615 Bellevue Rd
Atwater, CA
Mason McDuffie Mortgage Corporation
(209) 676-6000
2554 Alabama St
Atwater, CA
Eiow Real Estate
(626) 331-9213
20540 E Arrow Hwy
Covina, CA
Comstock Mortgage
(916) 974-2900
3426 American Dr
Sacramento, CA
California Mortgage Association
(916) 239-4080
2520 Venture Oaks Way Ste 150
Sacramento, CA
Canyon Mortgage Inc
(760) 365-1800
55491 29 Palms Hwy
Yucca Valley, CA
Connecting Mortgage
(858) 456-1419
La Jolla, CA
Matrix Mortgage
(805) 271-0032
2091 E Bard Rd
Oxnard, CA

A Fixed Rate mortgage will offer you the security of knowing that your mortgage interest rate will not change during the term of your fixed rate. For example, a lender can offer a 30-year fixed loan to a homebuyer at a 6.5% interest rate. The loan is locked in to the 6.5% interest rate, even if the market interest rate rises to 8.0%. Conversely, if the market interest rate decreases to 4.5%, you will continue to pay the 6.5% interest rate. A Fixed-Rate Mortgage applies the same interest rate toward monthly loan payments for the life of the loan.

Features:

- Straightforward and easier to understand than Adjustable Rate Mortgages (ARMs).

- More secure for the buyer and very popular with first-time home buyers.

- Ideal for anyone who likes to budget monthly expenses and plans to keep their home for several years.

- Since the risk to the lender is higher, fixed-rate mortgages generally have higher interest rates than Adjustable Rate Mortgages (ARMs).

- Tend to have higher initial monthly payments compared to those of adjustable rate mortgages.

- Fixed-rate mortgages are less flexibility than adjustable rate mortgages.

With adjustable rate mortgages the interest rate is not fixed, but changes during the life of the loan in line with movements in an index rate. The advantage of an Adjustable Rate Mortgage is that you may be able to afford a more expensive home because your initial interest rate will be lower. In a fixed-rate mortgage, your interest rate stays the same for the term of the mortgage.

About the Author:

Copyright © 2005.

Chileshe Mwape writes for The Secured Personal Loans Website at: http://www.secured-personal-loan.org.uk/ and he’s also a regular contributor to the Fixed-rate Mortgages blog at http://www.fixed-rate-mortgages.blogspot.com/

This article may be reprinted online as long as all the above links are active and clickable.


Article Source:

thePhantomWriters Article Submission Service

Featured Local Company

Allied Home Mortgage

(209) 529-6900
1101 Sylvan Ave
Modesto, CA


Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History