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.
SI Home Loans is a licensed mortgage broker company operating in Florida and soon expanding to Colorado. All loan approvals and rates are based on individual credit qualifications and are subject to change without notice. This is not a commitment to lend. Equal Housing Opportunity. NMLS # 2460135
