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Shop Fixed-Rate Mortgages in Wilkes-Barre, PA

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

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What to Know About Fixed-Rate Loans in Wilkes-Barre, PA

When reading up on mortgages in Wilkes-Barre, you'll see words and phrases 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!

So, what is a fixed-rate home loan? It's a mortgage with an interest rate that stays the same. An interest rate is an amount a lender charges for giving you money, and it's expressed as a percentage. 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. Fixed-rate loans often come with a 30-year term (length). Shorter time periods are an option and usually include larger monthly payments but less total interest paid over the loan's lifetime. So, what other home loan options are there in Wilkes-Barre outside of fixed-rate

Comparing Adjustable-Rate and Fixed-Rate Loans in Wilkes-Barre, PA

Fixed-rate loans are often compared to 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. An adjustable-rate mortgage will maintain the same rate for typically 3, 5, or 10 years, then the rate will change at certain intervals. Your monthly payments could go up if the interest rate goes up at one of these intervals. Give a Mr. Cooper mortgage professional a call to learn about the confidence a fixed-rate mortgage 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 Wilkes-Barre

There's so much more to learn about fixed-rate and adjustable-rate loans! Contact Mr. Cooper to check fixed-rate mortgage rates in Wilkes-Barre, PA. Friendly people are here to answer any questions you might have about the loan and homeownership process.

Mr. Cooper Reviews for Wilkes-Barre, PA

Read real stories from real Mr. Cooper home mortgage customers in Wilkes-Barre, PA. Then contact us to see what we can do for you.

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