When a Fixed-Rate Mortgage Makes Sense to You
Fixed-rate mortgages are beneficial to borrowers who plan to keep their new home forever, or for a very long time. If you have a job that will possibly keep you in the same town for a while, and if you have no plans to move in the near future, then a fixed-rate mortgage could be for you.
Fixed-rate mortgages are great options to consider when rates are low. When you choose a fixed-rate mortgage, you lock in your interest rate for the entire term of the mortgage. This protects you from rate hikes when interest rates climb in the future.
However, if, at the time of your loan application, interest rates on fixed-rate mortgage loans are high, yet expected to fall in the not-too-distant future, you should consider an adjustable-rate mortgage as your go-to solution. You can always look into a refinance for better terms and lower rates, after rates drop to lower levels.
Your Thrive Mortgage loan officer will help you find the fixed-rate mortgage that best fits your situation.
At Thrive Mortgage, you get one mortgage originator, one lender relationship, because we don’t believe in your having to re-explain your situation on every call.
When you’ve found the home of your dreams, turn to Thrive Mortgage for the loan that makes your dream come true.
*All loans are subject to underwriting or investor approval. Other restrictions may apply. This is not an offer of credit or a commitment to lend. Guidelines subject to change.
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