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15-year fixed-rate mortgage: If it’s the interest rate you’re worried about, consider a 15-year fixed-rate loan. It generally carries a lower rate than its 30-year counterpart.
5/6 and 5/1 ARMs: 5/6 and 5/1 ARMs offer a fixed intro rate for the first five years of the mortgage, then switch to an adjustable rate for the remaining 25 years. 5/6 ARMs adjust every six months ...
Fees: The fees associated with a variable annuity are higher than most annuities — and even other financial products — due to the underlying investments and more intricate contracts. You might ...
A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. [1] The loan may be offered at the lender's standard variable rate/base rate. There may be a direct ...
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An adjustable-rate mortgage has an interest rate that changes at set intervals after a fixed-rate introductory period. Intro periods are most commonly three, five, seven or 10 years.
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