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If you’re looking to buy a home, you’ve probably heard fixed-rate and variable-rate thrown around a lot when it comes to mortgages. Let’s review the difference between the two!
So a fixed-rate mortgage has the same interest rate every month. You know exactly what your mortgage payments are going to be for every month of your loan because it doesn’t change.
A variable-rate mortgage has an interest rate that can change. The interest rate changes from time to time due to the market, so your monthly payment could change over time.
Both of these mortgage types have their advantages and disadvantages. If you’re wondering which one is best for you, just send me a DM and I can introduce you to my trusted mortgage partner of choice. Not everyone is a clear-cut fixed vs variable Your mortgage term is like a snowflake no two are identical. LOL Just kidding some are but it is still so important to identify your goals and to pick the one that suits you best.
If you want to speak with a broker or agent let me know and I can happily connect you or if you want to connect with a
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