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Compare Fixed Home Loans in Menlo Park, CA

Is a fixed-rate mortgage right for you? Mr. Cooper can help you decide. It's our goal to help you with the whole home-buying process.

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Learn the Basics When Shopping Fixed-Rate Loans in Menlo Park, CA

When reading up on mortgages in Menlo Park, you'll see words and phrases you may not have heard before. 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 on a mission to simplify every aspect of buying a house — including the words!

What exactly is a fixed-rate loan? "Fixed-rate" means the interest rate on your mortgage doesn't change. An interest rate is what the lender charges for loaning you money. It is expressed as a percentage. Home loan interest rates can go up and down in the same day, so a fixed-rate loan means your rate is locked-in and secure. Fixed-rate home loans usually have a 30-year term length. Shorter terms are available 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 Menlo Park outside of fixed-rate

Fixed-Rate vs. Adjustable-Rate Loans in Menlo Park, CA

Before committing to a loan, compare all of your options, including adjustable-rate loans. An adjustable-rate mortgage (ARM) is different from a fixed-rate mortgage in that the interest rate can go up or down based on national indexes. An adjustable-rate mortgage will maintain the same rate for typically 3, 5, or 10 years, then the rate will change at certain intervals. If the interest rate goes up after your fixed-rate period has ended, your monthly payments could go up 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 large of a mortgage payment you qualify for, and if you could still pay your mortgage on an ARM if interest rates went up, how long you plan on living in the house, and where interest rates are headed.

Call Mr. Cooper for Fixed-Rate & Adjustable-Rate Loan Questions in Menlo Park

Still have questions about adjustable or fixed-rate loans? Give us a call to check the most recent fixed-rate mortgage rates in Menlo Park. Friendly folks are standing by to guide you through the loan and homeownership process.

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