Opening A Mobile Business

  • Replies:2
  • OpenNot stickiedUnanswered
  • Forum posts: 15

Mar 19, 2017 4:44:03 AM via Website

Opening up a mobile business and I need help in my loan application. What is the advantage of fixed-rate mortgage? I am being offered two options in the credit union the other one is adjustable rate mortgage. The latter sounds appealing but some says fixed-rate is better. I'm not familiar with this terms I need help in deciding. I hope this is not too odd to ask here.

  • Forum posts: 24

Mar 23, 2017 3:27:19 PM via Website

The main advantage of a fixed-rate loan is that the borrower is protected from sudden and potentially significant increases in monthly mortgage payments if interest rates rise. Fixed-rate mortgages are easy to understand and vary little from lender to lender.