Fixed-rate vs adjustable-rate mortgage, which should I choose?

A fixed rate mortgage keeps the same interest rate and payment for the entire loan term, giving you predictability and protection from rate increases. An adjustable rate mortgage or ARM starts with a lower rate for an initial period, then adjusts periodically based on market conditions, which can lower your payment early on but introduces uncertainty later. ARMs can make sense if you plan to sell or refinance before the adjustment period, if you expect income to rise, or if rates are unusually high and you want to start lower. Fixed rate loans are generally better if you plan to stay long term or prefer stable budgeting. The specifics depend on your situation and a licensed lender should confirm which option fits your goals and risk tolerance, and Jon can connect you with one.

Specifics depend on your situation and should be confirmed with a licensed lender. Jon can connect you with one: text (623) 826-0888.