Sentences with phrase «comparable fixed rate mortgage»
Usually, the initial rate on an ARM is lower than a comparable fixed rate mortgage.
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Thus, changes in policy rates will affect Canadian mortgage payments either immediately — or at least sooner — than the comparable fixed rate mortgage in the US.
Not exact matches
In general, interest rates on a second mortgage will several percentage points higher than for a comparable - sized first mortgage; and second liens can be fixed - rate or adjustable - rate mortgages (ARM).
In general, interest rates on a second mortgage will several percentage points higher than for a comparable - sized first mortgage; and second liens can be fixed - rate or adjustable - rate mortgages (ARM).
Fixed rates generally are comparable to traditional mortgage rates.
Of course, this is just one scenario — the rate could also go down or stay the same, and even remain lower than comparable fixed - rate mortgages.
An ARM, also known as a variable - rate mortgage, is a loan that starts out at a fixed, predetermined interest rate, likely lower than what you would get with a comparable fixed - rate mortgage.
ARM loans feature lower rates than comparable fixed mortgages.
If you expect that you would be happy to (and able to afford to) live in the same place for at least ten years, and if the after - tax cost of buying a home (including likely repair costs, principal and interest on a 30 - year fixed rate mortgage, taxes, insurance, and utilities) is less than 125 % of the comparable cost of renting (including rent, renter's insurance, and utilities), buy a home.
Two, rates are comparable to traditional mortgage with both fixed and variable rates available depending on how you prefer to draw funds, whether in a lump sum or in smaller monthly stipends like an annuity.
FHA mortgage rates are typically 12.5 basis points (0.125 %) or more below the rates for a comparable conventional 30 - year fixed - rate mortgage.
VA mortgage rates are often much lower than comparable 30 - year fixed conventional mortgage rates.
Typically the initial fixed rate on an ARM is slightly lower than the comparable rate of a fixed rate mortgage.