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Find the Right Fixed-Rate Home Loan in Citrus Heights, CA for You

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

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What to Know About Fixed-Rate Loans in Citrus Heights, CA

When searching online for Citrus Heights home loans, you'll run across some jargon you you may never have learned about. The phrase "fixed-rate" might fall into that category. As a company that's dedicated to keeping the dream of homeownership alive, Mr. Cooper is here to help simplify the steps, paperwork, and terminology that's related to buying a home!

But what is a fixed interest rate home loan? It's a mortgage with an interest rate that stays the same. Interest rates, expressed as percentages, are what the lender charges for giving you money. Home loan interest rates can go up and down in the same day, so a fixed-rate loan allows you to secure a stable rate. How long does the rate stay the same? Fixed-rate loans typically come with a 30-year length (term). Shorter timeframes are possible and generally include larger monthly payments but less total interest paid over the loan's lifetime. So, what other home loan options are there in Citrus Heights outside of fixed-rate

Fixed-Rate vs. Adjustable-Rate Loans in Citrus Heights, CA

It's a good idea to learn about all of your loan options in Citrus Heights, including adjustable-rate loans. Adjustable-rate mortgages (ARM) are different from fixed-rate mortgages as the interest rate on an adjustable-rate mortgage can fluctuate based on national indexes. If you get an adjustable-rate loan, you can count on the rate to stay the same for a certain period of time (ex. 3, 5, or 10 years), then the rate is revised at specific intervals. If the interest rate goes up after your fixed-rate period has ended, your monthly payments could go up too. Call a Mr. Cooper mortgage specialist. Ask about the protections of a fixed-rate loan. We'll help you understand the factors that can go into choosing between a fixed-rate and adjustable-rate mortgage, 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.

Check Current Fixed-Rate Home Loan Rates in Citrus Heights, CA

There's so much more to learn about fixed-rate and adjustable-rate loans! Contact Mr. Cooper to check fixed-rate mortgage rates in Citrus Heights, CA. We have a welcoming team that is here to provide you with the latest rates, information, and answers to your loan and homeowner questions.

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