Choosing the Correct Mortgage Plan for
YOU!
There isn't a single or simple answer to this question. The
right type of mortgage for you depends on many different
factors:
■
Your current financial picture.
■
How you expect your finances to change.
■
How long you intend to keep your house.
■
How comfortable you are with your mortgage payment changing.
For example, a 15-year fixed-rate mortgage can save you many
thousands of dollars in interest payments over the life of
the loan, but your monthly payments will be higher. An
adjustable rate mortgage may get you started with a lower
monthly payment than a fixed-rate mortgage -- but your
payments could get higher when the interest rate changes.
The best way to find the "right" answer is to discuss your
finances, your plans and financial prospects, and your
preferences frankly with a mortgage professional.
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