Fixed-rate Mortgages Rochester NH

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

Greentree Mortgage
(603) 335-1199
43 N Main St
Rochester, NH
Thomas Family Mortgage
(603) 335-8668
36 Industrial Way Ste 1
Rochester, NH
Investors Mortgage Service
(603) 330-9158
60 Rochester Hill Rd
Rochester, NH
Tri-North Mortgage Inc
(603) 425-2296
66 Gilcreast Rd
Londonderry, NH
Carteret Mortgage
(603) 352-2994
Keene, NH
A & B Mortgage
(603) 626-0770
149 Hanover St
Manchester, NH
Regency Mortgage Corp
(603) 669-5626
Manchester, NH
Smart Choice Mortgage Llc
(603) 622-0881
39 S River Rd
Bedford, NH
Franklin Savings Bank
(603) 528-2788
11 Veterans Sq
Laconia, NH
GMAC Mortgage Corporation
(603) 433-4622
2 International Dr Ste 115
Portsmouth, NH

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.


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Featured Local Company

Dedicated Mortgage Associates LLC

207-571-8270
1168- A Maine Street
Waterboro, ME

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