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Shop Fixed-Rate Mortgages in Eau Claire, WI

Check the latest interest rates for fixed-rate mortgages in Eau Claire, WI. Contact Mr. Cooper to learn more today.

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Learn the Basics When Shopping Fixed-Rate Loans in Eau Claire, WI

When searching online for Eau Claire home loans, 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 driven to keep the dream of homeownership alive, Mr. Cooper is here to help demystify all the words and processes that go into buying a house!

What exactly is a fixed-rate loan? It's a mortgage with an interest rate that never changes. Interest rates, expressed as percentages, are what the lender charges for giving you money. Mortgage interest rates can change daily, so a fixed-rate loan allows you to secure a stable rate. Fixed-rate home loans usually have a 30-year term length. Shorter terms are an option and generally come with bigger monthly payments but lower overall interest paid over the course of the loan's life. So, what other home loan options are there in Eau Claire outside of fixed-rate

Adjustable-Rate Loans vs. Fixed-Rate Loans in Eau Claire, WI

It's a good idea to learn about all of your loan options in Eau Claire, 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. 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 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 see how different factors can guide you in selecting between an adjustable-rate and fixed-rate mortgage, 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 for Today's Fixed-Rate Home Loan Rates in Eau Claire, WI

There's so much more to learn about fixed-rate and adjustable-rate loans! Give us a call to check the most recent fixed-rate mortgage rates in Eau Claire. Friendly people are standing by to guide you through the loan and homeownership process.

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