Mortgages

Pros and Cons of Adjustable-Rate Mortgages

Pros and Cons of Adjustable-Rate Mortgages An Adjustable-Rate Mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. Here are some pros and cons of ARMs. Pros Lower Initial Interest Rates ARMs typically offer lower initial interest rates compared to fixed-rate mortgages. This can make homeownership more...

What you should know about secured loans and mortgages

Owning your own home is a major milestone and a massive step towards securing yourself financially for the future. That is to say, with each payment you make towards your mortgage you are building equity. However, the ever-increasing cost of living, as well as high housing costs have home owners concerned about paying down debt. Most people spend a large portion of their income on debt obligations and...

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