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Compare Fixed Home Loans in Decatur, GA

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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Are All Fixed-Rate Loans in Decatur, GA the Same?

When reading up on mortgages in Decatur, you'll come across some terms you might not be familiar with. "Fixed-rate" could be one of those terms. 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!

So, what is a fixed-rate home 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. Fixed-rate home loans usually have a 30-year term length. Shorter time periods are possible and typically include larger monthly payments but less total interest paid over the loan's lifetime. How similar is a fixed-rate loan to other Decatur home loan options, like an adjustable-rate loan?

Comparing Adjustable-Rate and Fixed-Rate Loans in Decatur, GA

Before committing to a loan, compare all of your options, 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 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 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.

Call for Today's Fixed-Rate Home Loan Rates in Decatur, GA

Still have questions about adjustable or fixed-rate loans? Call a Mr. Cooper professional to check today's fixed-rate mortgage rates in Georgia. Friendly people are here to provide you with the latest rates, information, and answers to your loan and homeowner questions.

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