Mortgage Loan Types - part 2

by Diana Valo

30-year fixed rate mortgage may still be best for your circumstances, because it offers the lowest monthly payments of fixed rate loans.

An adjustable rate mortgage (ARM) is the best choice for those, who care about lower monthly payment. But the interest rate changes periodically in relation to an index and payment may go up or down respectively. So, if you are sure that your income will increase adjustable rate mortgage is right for you.

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