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Fixed rate mortgages are the only way to go. Five percent is a good rate. If your credit is perfect and you have a standing relationship with the lender, you might be able to do a little better, particularly if you have a business account that pushes a lot of money through the bank. If you get 5% and the rates drop later, you can refinance. Other than fixed rate, the only other mortgage is the ARM, which should be avoided.
What else can I help you with?
Who currently offers the best fixed rate mortgages?
There are a wide variety of mortgage companies that offer some of the best fixed rate mortgages in the U.S. Included among the best are HSBC and Lending Tree.
What banks offer cheap fixed rate mortgages?
Nationwide bank is one of the few banks that offer fixed rate mortgages. If one is looking for a fixed rate mortgage, it is best to schedule an appointment with a bank official for further information.
How can one inquire about fixed-rate mortgages?
One can inquire about fixed-rate mortgages from many different organizations in the financial sector such as ones local bank which can provide accurate rate on the fixed rate mortgages they offer.
Are fixed rate mortgages a good deal?
Fixed rate mortgages allow you to lock in a fixed rate for the life of the mortgage loan. This compares to adjustable rate mortgages where the rate may change. By getting a fixed rate mortgage you protect yourself from future spikes in interest rates.
Are fixed mortgages better than adjustable types now?
A big advantage of fixed rate mortgages is that the rate remains fixed. If interest rates were to rise in the future, your fixed rate mortgage would protect you from that rise. However, fixed rate mortgage rates are generally higher than adjustable rate mortgages.
What types of mortgages do Lloyds TSB offer?
Lloyds TSB offers fixed rate and tracker mortgages. Tracker mortgages have an interest rate that changes and is outside the control of the lender. Fixed rate mortgages have an interest rate that stays steady every month.
How can one sort through variable rate mortgages?
Variable rate mortgages are mortgages that are not fixed. A person would have to decide which mortgage they would like to try for, either a fixed mortgage rate or a variable rate mortgage.
Which companies offers the best rates when it comes to refinancing mortgages at a great low fixed rate?
ING Direct Mortgages offers the best rates when it comes to refinancing mortagages at a great low fixed rate. You can find Great rate 3.875% Rate 3.580% APR with no points, no application fees at www.ingdirect.com
What is the definition of fixed mortgages?
A fixed mortgage is a type of loan where the rate of interest stays the same. Other mortgages' interest rates often fluctuate, but the rate of a fixed mortgage is constant.
What types of mortgages does CIBC offer?
CIBC offers mortgages such as Variable Rate Mortgages and Fixed Rate Mortgages. You can learn more about the types of mortgages offered by the CIBC company at the CIBC website.
What is the difference between fix and variable mortgages?
The difference between fixed and variable mortgages are that in a fixed mortgage, the rate can not change. In a variable mortgage, the rate changes with time.
What types of mortgages are available for homebuyers?
The main types of mortgages available for homebuyers are fixed-rate mortgages, adjustable-rate mortgages, FHA loans, VA loans, and jumbo loans.
