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FIXED RATE MORTGAGES Fixed Rate Mortgages are Mortgages that have a FIXED Mortgage term that will never adjust over the life of the loan. Fixed Rate Mortgage Programs
ADJUSTABLE RATE MORTGAGES Adjustable Rate Mortgages are Mortgages that can adjust upward or downward depending on the specific program. Adjustable Rates Mortgages can also have a fixed term for a number of years usually represented by a 3/1, 5/1,7/1,10/1 Arm; where the 3,5,7,10 means the rate is fixed for that many years and then will adjust based on the market. Ask Your Loan specialist which Adjustable Rate Product may be for you. |
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