Choosing between a fixed-rate and adjustable-rate mortgage (ARM) can impact your financial future.
Fixed-Rate Mortgage (FRM):
Same interest rate for the life of the loan.
Stable monthly payments — great for long-term homeowners.
Typically slightly higher initial rate than ARMs.
Adjustable-Rate Mortgage (ARM):
Lower starting interest rate.
Rates adjust after a fixed period (e.g., 5/1 ARM adjusts after 5 years).
Good for buyers planning to sell or refinance within a few years.
💡 Pro Tip: If you’re buying your “forever home,” a fixed-rate loan offers peace of mind. If you plan to move soon, an ARM might save you money upfront.
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