Fixed and Adjustable
Fixed and Adjustable Rate Mortgages are traditional, non-FHA loans.
Fixed Rate Mortgages feature an interest rate that remains the same throughout the life of the loan. Monthly payments remain constant over the life of the loan. 1st Eagle Mortgage offers fixed rate mortgages with terms of from 8 to 30 years. As an example, buy you can have a 27 year mortgage or an 18 year one, etc. The mortgage should fit in with your financial plans.
Adjustable Rate Mortgages (ARMs) are loans where the interest rate is fixed for a certain number of years (such as 5, 7, or 10) and then recalculated on a yearly basis depending on market rates. After the fixed period, monthly payments may be higher or lower depending upon the current interest rate. ARMs have lower rates than the traditional fixed rate mortgages.
Call 847.441.4116 or Click Here for more information on Fixed and Adjustable Rate Mortgages