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Find the Right Fixed-Rate Home Loan in Spokane Valley, WA for You

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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Fixed-Rate Loans: What You Need to Know When Buying a Home in Spokane Valley, WA

When searching online for Spokane Valley home loans, you'll come across some terms you may be unfamiliar 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 here to help demystify all the words and processes that go into buying a house!

So, what is a fixed-rate home loan? It's a mortgage with an interest rate that never changes. An interest rate is an amount a lender charges for giving you money, and it's expressed as a percentage. Mortgage interest rates can change daily, 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 timeframes 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 Spokane Valley home loan options, like an adjustable-rate loan?

Comparing Adjustable-Rate and Fixed-Rate Loans in Spokane Valley, WA

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 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. 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 understand the factors that can go into choosing between a fixed-rate and adjustable-rate mortgage, like if you could still pay on an ARM if interest rates went up, how large of a mortgage payment you can qualify for, how long you plan on living in the house, and where interest rates are headed.

Mr. Cooper Knows the Fixed-Rate Home Loan Rates in Spokane Valley, WA

Still have questions about adjustable or fixed-rate loans? Call a Mr. Cooper professional to check today's fixed-rate mortgage rates in Washington. Friendly people are standing by to answer any questions you might have about the loan and homeownership process.

Mr. Cooper Reviews from Real Customers in Spokane Valley, WA

Take it from these happy Mr. Cooper mortgage customers in Spokane Valley, WA: We love helping homeowners. Call now to see how we can serve you.

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Let Mr. Cooper help you get pre-approved for a mortgage and get the keys to your dream home.