Is a fixed or adjustable rate mortgage better?
That’s something we’ll have to determine together – part of the “We’ll help you find the best mortgage” pledge at Enterprise. The answer to your question depends on your particular financial situation and how long you plan to live in the house you’re buying. The advantage of a fixed rate mortgage is that your monthly principal and interest payments will not change. The ARM (adjustable rate mortgage) advantage is that monthly payments typically are lower at first, but they can rise.
