What is a fixed-rate mortgage?
A loan with a set interest rate throughout the life of the loan regardless of whether rates go up or down. The most common mortgage is known as a 30-year fixed which means that the loan is paid over a 30-year period, and the interest rate is fixed at the time of the purchase. Most FHA loans and VA loans are fixed-rate mortgages. The other main type of mortgage is an adjustable-rate mortgage (ARM), which has a variable interest rate.
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Contact Us
1455 W 16th Street, Yuma Arizona
Call: 928-726-7325
Email: [email protected]
Office hours:
Monday to Thursday 8:30-5:30
Friday 8:30-5:00
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