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Whats the difference between a fixed-rate and adjustable-rate mortgage?

April 26, 2017adjustable-rate difference fixed-rate mortgage

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Whats the difference between a fixed-rate and adjustable-rate mortgage?

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Banks lend money at interest rates the rate of money they charge you in addition to the principal for the right to borrow their money. This rate can remain ‘fixed,’ or the same rate for the span of the mortgage (typically 30 years), or it can change based on a number of different variables. Contact Dino today for a more detailed explanation of fixed vs. adjustable rates and what makes the most sense for you.