When Should You Choose a Fixed Rate Loan?

Fixed rate home loans are the best financing strategy for you, if:

1. you plan to live in your new home for 10 years, or longer;

2. you want the most conservative financial plan available;

3. you want the ‘guarantee’ of a fixed mortgage payment.

Fixed Rate loans are the most popular loans used by home buyers. The 30 year fixed rate loan has become the standard to which all loans are compared. Fixed rate loans are a conservative and safe solution for all homeowners who plan on owning their home for 10 years or more.

So, if you do not like ‘changes’ or ‘surprises’ and you like ‘guarantees’; this is the loan for you. Your principle and interest payment will never change thru the life of the loan term.

The 30 year fixed interest rate is determined by the U.S. Treasury bond market and not "Prime Rate" as so many people think. So, if you find yourself trying to gauge when to invest in real estate please DO NOT think that the Federal Reserve directly dictates this rate. Please consult with one of the EXPERTS at CRFS Loans. 

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