Whether you are buying a new home or planning to refinance, you may be asking the question - Adjustable Rate Mortgage (ARM) or Fixed mortgage rate - which one is better? When you are trying to make a decision on whether to take an Adjustable Rate Mortgage or a Fixed Rate, you should consider two factors: How long do you plan to stay in the property? What is the difference in the interest rate between an ARM & a Fixed? Let me elaborate this: Rates on ARMs are usually lower than fixed-rate loans.…
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