In this #KnowBeforeYouOwe video, your #MortgageBFF Autumn discusses the differences between a fixed-rate mortgage and an adjustable-rate mortgage, shares the pros and cons of each, and in which cases it may be more beneficial to use one versus the other.
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This example is based on a 30 year conventional loan amount of $300,000 with an interest rate of 3.56% and a 5% down payment with a fixed APR of 3.63%. Payments could include taxes and insurance. Eligibility for a loan or extension of credit from Homespire Mortgage Corporation is subject to completion of loan application, credit, income, and employment qualification, and meeting established underwriting criteria. Rates are subject to change without noticed based on market conditions.
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Homespire Mortgage Corporation. Equal Housing Lender. All Rights Reserved. NMLS IS # 183215. Corporate Office: 9711 Washingtonian Blvd., Suite 500, Gaithersburg, MD 20878. 1-800-531-5395
This is not an offer for a loan or any type of extension. Eligibility for a loan or extension of credit from Homespire Mortgage Corporation is subject to completion of a loan application, credit, income, and employment qualification, and meeting established underwriting criteria. Rates are subject to change without notice based on market conditions. See Loan Consultant for information on program income limits, buyer contribution, area median income, debt requirements, and other application details.
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