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| Fixed Rate Mortgages |
A fixed rate mortgage is a mortgage in which the monthly principal and interest
payments remain the same throughout the life of the loan. Alliance offers
30-year and 15-year fixed rate mortgages. Some advantages of a fixed rate
mortgage are your rate will always remain the same even if the market
fluctuates and you have the security of knowing what your mortgage payment will
be from month to month. Fixed rate mortgages may be right for you if you do not
expect your income to rise significantly in the future or you plan on staying
in your home for at least ten years.
When determining which fixed rate mortgage is right for you, you may want to
consider the following factors. With a 30-year fixed rate mortgage your monthly
payments are lower than they would be on a 15-year fixed rate, but the 15 year
loan allows you to repay your loan twice as fast and save more than half the
total interest costs.
Deciding which type of mortgage is right for you is a major decision; but it?s
one you don?t have to make alone. At Alliance, our loan officers are here to
help you weigh your options and decide which mortgage fits you. We?re into
helping our members reach their goals; for many people, one goal is owning
their own home. Talk to us today about your dream home by calling 800.232.8669
or come into any Financial Center.
Are you considering a 15-year fixed rate mortgage? Click
here to learn more.
Do you have mortgage questions?
Click here to go to our mortgage resource center.
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