Different Finance Option With Interest Rates Rising

Dated: August 2 2022

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Eager home buyers are employing different tactics to offset heftier mortgage payments. Some pay fees to reduce their mortgage rates, while some put more money down. 

Others are opting for adjustable-rate mortgages (ARMS).

ARMs are variable-rate loans featuring a lower introductory rate, which may last 3 to 7 years. After that, rates could either go up or down depending on  the market. 

Some buyers may want to start with an ARM and later switch to a fixed-rate mortgage after the introductory period. 

Now more than ever, the advise of a knowledgeable agent is critical. A real estate professional can help you choose the best mortgage based on factors such as loan amount, 

local market conditions and how long you plan to stay in the home. 

Such cooperative planning and expertise can save buyers substantial time as well as money on interest, fees and down payments. 

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Karin Waterschoot-Perez

Executive Vice President of Sales Experienced Realtor, Karin Waterschoot-Perez, currently serves buyers and sellers located in and around Franklin County. With over 19 years of experience in the re....

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