Mortgage refinance rates - Five year fixed rate mortgage rates [mortgage-assumption.blogspot.com]
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mortgage-assumption.blogspot.com 30 Year Fixed Mortgage Rate
5 years fixed rate mortgage is a mortgage where the interest rate of the note remains the same through the life of the loan, as opposed to loans where the interest rate can change. Other forms of mortgage loan interest only mortgage, graduated payment mortgage, adjustable rate mortgages and tracker mortgage variable negative charge, including yourself, andBalloon Payment Mortgage.
http://www.mortgagerefinancerates.goodarticlesite.com/five-year-fixed-rate-mortgage-rates/
Remember that each of the above categories for a variable mortgage direct, in addition to the loan may last for a fixed rate can.
A balloon payment mortgage, for example, a fixed rate for the loan, followed by the final balloon payment.
Terminology may differ from country to country: loans for which the rate of solid is less than the duration of the loan mayCalled hybrid adjustable rate mortgages.This payment is independent of the amount of the additional cost of a house in some periods trust managed accounts, such as property taxes and property insurance. Therefore, the payments the lender can have more time with the changing escrow amount set but payments for managing capital and interest on the loan will remain the same. There are several categories of commercial real estate loan is a loan with aGuarantee of reimbursement.
As a fixed interest rate five years.A commercial mortgage loan in connection with a residential, except for the guarantee of commercial buildings and other commercial real estate, residential real estate is not one. In addition, commercial mortgages generally led by companies instead of individual banks.
The lender has a business partnership Incorporated or limited liability company, for which the assessment of the creditworthiness ofactivity may be more complicated, as is the case of residential mortgages. In five years at a fixed rate not claim taken, which means that in case of default of repayment, the borrower, the guarantee to use only but not any claim brought against the creditor for any further shortage.
The most common reason for this is two laws largely avoid many of the borrowers on the hunt for the creditor for any deficiency, and mortgages structured for the sale of bondsWe will give highest priority to always be a certain type of income and therefore require a sentence that allows the creditor to take the property immediately, regardless of bankruptcy proceedings that may be the lender to go through.
http://www.mortgagerefinancerates.goodarticlesite.com/five-year-fixed-rate-mortgage-rates/
Suggest Mortgage refinance rates - Five year fixed rate mortgage rates IssuesQuestion by kevin l: should i agree for a 20 year mortgage at a fixed interest rate? should i agree for a 20 year mortgage at a fixed interest rate or should i agree to an interest rate that fluctuates and is based on the performance of the economy. i know the benefits and disadvantages of both, bit i do not have access to historical trends to make an intelligent decision. can any financial or loan officers out there assist? Best answer for should i agree for a 20 year mortgage at a fixed interest rate?:
Answer by rose253099
In my opinion and upon my extensive research before I purchased my home I would have to say that a fixed mortgage is safer. That way there are never any surprises and you can budget your monthly income accordingly. If you can afford to pay more than your monthly payment then make sure that you do not have a early payment or early payoff penalty. Good luck!
Answer by Maggie G
If you qualify, go for the fixed interest loan with 20% or more down and total monthly payment equaling no more than 25 - 30% of your take home pay. If interest rateds dip, you can always refinance.
Answer by eany1955
Fixed, fixed, fixed. Go with fixed all the way! If there is a lower rate in the future you can refinance.
Answer by Tony k
Stay away from the adjustable mortgage,this is what got us into the housing mess at least that is what I believe.It goes something like this,the house is really more then you can affo rd but they tell you the intrest is low but it will go up a little bit in XXXXXXX time,but you should not worry because you will be making more money then and Bla bla bla and you buy into this and everything is fine,as an example the monthly payment is $ 1000.00 THEN GOES UP TO $ 1350.00 then $ 1600.00 and so it goes. If you buy a house you want a FIXED mortgage this means a fixed interest rate that will never change.You must remember this what ever your interest rate is and things change you can always refinance to a lower rate and the mortgage company cannot raise a fixed interest rate so once again STAY AWAY FROM ADJUSTABLE MORTGAGE
Answer by Dan B
ARM or variable interest rates ALWAYS adjust UP. I've not heard of any of them adjusting down (but it could happen when heck freezes over). The lender has no way of knowing what the future will hold. Ask 'em. They'll tell you they can't. But the lender is expecting you to know what the future will hold for you; whether the future will allow you to make the higher monthly payments that almost certainly will occur. There is ALWAYS a disclaimer that says "past performance is no guarantee of future results." I would go with a 30 yr fixed. Here's why: $ 150,000 @ 6% for 30 yrs = $ 900 payments Pay off in 30 yrs. $ 150,000 @ 6% for 20 yrs = $ 1,075 payments. Pay off in 20 yrs. $ 150,000 @ 6% for 30 yrs with extra $ 175/mo = pay off in 20 yrs. The advantage here is that you will have the mortgage paid off in 20 yrs anyway, but you aren't locked into the higher $ 1075 monthly payment should you have a minor financial emergency (car repair, medical, etc) or a more permanent increase due to taxes or insurance rates. You'll pay $ 70 extra interest over the life of the loan compared to the straight 20 yr fixed at the higher monthly payment.
Answer by Mike
Typically adjustable mortgage rates are based on prime or lately more commonly 12 month libor. Typically the premium over 12 month libor is about 2.25%. At the current libor rate at a record low of about 1.25, the interest rate for an adjustable mortgage would be a very good 3.50%. However, if past history is any indication, 12 moth libor will hit 5% or greater at least every 5 years making your mortgage interest rate go to 7.25% or greater. The question that you have to ask yourself is whether you want to take the risk. Also if you take the risk, do you have emergency funds set aside to hopefully wait out the high interest rate? Trying to refinance when libor is high will not help since fixed interest rates will also be high. The following is the history of 12 month libor rates for the past 20 years. The 10 years prior to that was even worse hitting over 15%. http://www.wsjprimerate.us/libor/libor_rates_history.htm
Answer by Banker
Hi Kevin, All the answers have some merit, but they do not address the key most important item, YOU. What are your plans in the next 3,5 or 10 years and beyond. If you only plan on being in the house for 2-5 years then an Adjustable Rate Mortgage (ARM) may be good for you and your family the rate on a 3 year ARM could be 1% less then a 20/30 Year Fixed mortgage and it would be fixed for 3 years. Who cares if goes up.... if you are already sold the house and moved on. .... If you are unsure of where and what you will be doing then a Fixed rate will let you sleep better a night knowing your interest rate is locked down. Rich www.loanonelender.com
Answer by Nabers
Fixed mortgage is always safer. You might get the payments low, still it contributes you with a minimal level of risk.
