A mortgage is a loan that is used to purchase a home. The loan is secured by the property, which means that the lender can foreclose on the property if the borrower fails to repay the loan.
What is the difference between a fixed-rate mortgage and an adjustable-rate mortgage (ARM)?
A fixed-rate mortgage offers a fixed interest rate for the life of the loan. This type of mortgage is ideal for borrowers who want to lock in a low interest rate and protect themselves from future interest rate increases.
Views: 0
