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Which Mortgage is Right for You?
Fixed Rate
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during.
Adjustable ARM
Adjustable-rate mortgages Typically, start with 5, 7 or 10 years fixed, then become Adjustable and your payment will go up or down depending on the loan’s introductory period, rate caps, and the index interest rate.
Interest Only
Interest only mortgages are home loans in which borrowers make monthly payments only toward the interest of the current balance, rather than towards the principal.
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