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Find the Right Fixed-Rate Home Loan in Fountain Hills, AZ for You

Compare current mortgage interest rates and talk with Mr. Cooper in Fountain Hills, AZ to see if a fixed-rate mortgage is right for you.

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Fixed-Rate Loans: What You Need to Know When Buying a Home in Fountain Hills, AZ

When reading up on mortgages in Fountain Hills, you'll see words and phrases you you may never have learned about. "Fixed-right" might be one of those words. As a company that's focused on making your path to homeownership clear and straightforward, Mr. Cooper is on a mission to simplify every aspect of buying a house — including the words!

What exactly is a fixed-rate loan? It's a mortgage with an interest rate that never changes. An interest rate is what the lender charges for loaning you money. It is expressed as a percentage. Interest rates on home loans can vary by the day, so a fixed-rate loan helps you lock-in the security of a consistent rate. How long does the rate stay the same? Fixed-rate loans typically come with a 30-year length (term). Shorter terms are possible and generally come with higher monthly payments but less overall interest paid over the life of the loan. So, what other home loan options are there in Fountain Hills outside of fixed-rate

Comparing Adjustable-Rate and Fixed-Rate Loans in Fountain Hills, AZ

Before committing to a loan, compare all of your options, including adjustable-rate loans. Unlike a fixed-rate loan, the interest rate on an adjustable-rate mortgage (ARM) may change based on national indexes. An adjustable-rate loan will come with a fixed rate for a specific period (like 3, 5, or 10 years), then the rate is revised at specific intervals. If your interest rate increases after the fixed-rate timeframe has ended, your monthly payments might increase too. Talk to a Mr. Cooper mortgage professional about the protections a fixed-rate loan can offer. We'll help you balance the pros and cons of fixed-rate and adjustable-rate mortgages, and help you see the key factors in picking the one that is right for you, like how long you plan on living in the house, how large of a mortgage payment you qualify for, and if you could still pay for an ARM if interest rates went up, and where interest rates are headed.

Call Mr. Cooper for Fixed-Rate & Adjustable-Rate Loan Questions in Fountain Hills

We've only brushed the surface of fixed-rate loans and adjustable-rate loans! Contact Mr. Cooper to check fixed-rate mortgage rates in Fountain Hills, AZ. Friendly folks are standing by to guide you through the loan and homeownership process.

Mr. Cooper Reviews from Real Customers in Fountain Hills, AZ

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