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What are the benefits of a fixed rate vs. an adjustable rate mortgage?

April 26, 2017adjustable rate mortgage Benefits fixed rate vs

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What are the benefits of a fixed rate vs. an adjustable rate mortgage?

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The mortgage that best suits your needs depends on your financial situation and housing aspirations. Adjustable rate mortgages (ARMs) offer lower initial monthly payments with a risk of upward market adjustments. ARMs are a good option if you plan on selling your property within a few years. If not, you may want to switch from an adjustable rate to a conventional 15-, 20- or 30-year fixed rate mortgage. Contact me to learn which program is best for you and your family.