With a variable interest rate, you can
get a lower rate initially but the interest can rise along with market changes.
Not exact matches
If you
initially get a mortgage with a
rate of 5 % and learn you can refinance to a mortgage with a
rate of 4 %, you might decide it's worth the cost and trouble of refinancing to nab that
lower rate.
That's because there's much less time for
rates to increase, which makes it more likely that you will keep the savings you
get with the
initially lower variable
rate.
The borrower
gets a
lower interest
rate initially, but must bear the risk that interest
rates rise in future years.
Get the
lowest rate without booking fees, free cancellation until 72 hours prior to arrival (some offers excluded), and only a one - night deposit is
initially required.
You will either
get an extremely
low quote, and be surprised by how much it increases after you provide more details, or you will be put - off and discouraged by
initially high premium
rates.
If you're looking to save money, many smaller, gas - saving economy - models can provide you with the
lower auto insurance
rates you
initially considered
getting a small car for.
Many whole life insurance policies
initially offer
low «teaser
rates» to
get you to sign up, but then increase the cost of your coverage every 1 to 5 years.
... Offer to work,
initially for free or at a
lower - than - market - value
rate to
get the experience you need to succeed in the new industry... and to prove your value in this related, or new, niche (it's really left for interpretation as to whether a new industry, indeed, would be considered a whole new niche).
So, in addition to
lowering the amount you owe
initially, a down payment also can
get you a
lower interest
rate, making a house more affordable.