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Mr. John Delaney is the President and CEO of Central Banc Mortgage a multi-state. He designed and implemented the first adjustable-rate program sold to the Federal National Mortgage Association. Prior to Cityfed, John served as vice president of Seafirst Mortgage Corporation of Seattle.
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∙ 12y ago
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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.
How do you lock in a mortgage rate verbally or written?
If you don't have it in writing, you don't have it! If you have an existing variable rate mortgage, it will specify how you lock in the rate.
What is meant by the terminology fixed mortgage rates?
A fixed mortgage rate is an interest rate that will not change for the term of the mortgage. This is in contrast to a variable mortgage rate which changes frequently based on the prime rate or other benchmark rate.
How is a self certified remortgage different from a traditional mortgage?
A mortgage that is classified and listed as a certified mortgage is different from a traditional mortgage in that one has a fixed rate and the other has a variable rate.
Which bank in Canada offers variable mortgage rates?
RBC Royal Bank of Canada is the best Canadian bank that offers variable mortgage rates. Its variable mortgage rates include a RBC Prime rate which is a 5 year plan that gives +1.000 percent rate.
What is the difference between a fixed second mortgage and one with a variable rate?
The difference between a fixed second mortgage and one with a variable rate is that fixed second mortgage has a fixed rate and is commonly thought of as safer than a mortgage with a variable rate.
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.
What Is Variable Mortgage used For?
Variable mortgage is used for things that involve mortgage such as a house. Every time the prime rate changes, so does the mortgage, therefore the mortgage is variable.
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.
Where can one find an explanation of a variable mortgage?
You can find a good and detailed explanation right here as your question is being answered. A variable rate mortgage is just what it says a variable rate that means the rate can change over times. This is in contrast to the more traditional fixed rate mortgage.
How do you lock in a mortgage rate verbally or written?
If you don't have it in writing, you don't have it! If you have an existing variable rate mortgage, it will specify how you lock in the rate.
What is meant by the terminology fixed mortgage rates?
A fixed mortgage rate is an interest rate that will not change for the term of the mortgage. This is in contrast to a variable mortgage rate which changes frequently based on the prime rate or other benchmark rate.
How is a self certified remortgage different from a traditional mortgage?
A mortgage that is classified and listed as a certified mortgage is different from a traditional mortgage in that one has a fixed rate and the other has a variable rate.
What is a balloon mortgage?
escalates with the variable rate? fixed rate unchangeable ocala,fl
Which bank in Canada offers variable mortgage rates?
RBC Royal Bank of Canada is the best Canadian bank that offers variable mortgage rates. Its variable mortgage rates include a RBC Prime rate which is a 5 year plan that gives +1.000 percent rate.
What is a variable mortgage rate?
For those interested in getting a mortgage and wanting information about variable mortgage rates there may be some good explanations that could be helpful on the internet. One article states that a variable mortgage rate would mean that the rate of interest may vary at any time. This would mean the starting repayment rate could differ from that as time went on. The rate is based on the cost of the lender of borrowing results from the credit markets.
What is the average rate of a 5 year mortgage?
The average rate of a 5 year mortgage in Canada seems to be just over 3%. The rate can go up or down depending on if the mortgage is closed or variable.
