It all depends on your situation. Before you decide, take a look at the top reasons for getting a fixed-rate mortgage over a variable rate option.
Fixed-rates give you greater confidence that you can make your mortgage payments since they are predictable. Economic shifts have no impact whatsoever on how much you pay.
With a fixed-rate home loan, the interest rate on your loan remains the same for an agreed period -- the most common of which are 30, 20, and 15 years.
Since your interest rates remain the same over time, a fixed-rate mortgage allows you to budget the rest of your finances.
Cannon Mortgage Company, Inc. | NMLS #123456
Equal Housing Opportunity.
This is not a commitment to lend. All loans are subject to credit approval and property appraisal.
Terms and conditions apply. Rates and programs are subject to change without notice.
Licensed in NC and SC.
For licensing information, visit www.nmlsconsumeraccess.org.