Professional Property Managers in Beaumont, AB

You may think in today’s times with higher interest rates than we’ve seen over the past couple years that you would be crazy to take the variable interest rate route, but what if I told you weren’t? My objective is to educate homeowners/buyers with ALL the benefits so they can make an educated decision. Potential for lower interest rates. One of the main advantages of a variable rate mortgage is that you likely end up paying less interest over the course of your mortgage when interest rates are down. Flexibility. A variable rate mortgage can offer more flexibility than a fixed rate mortgage. With a fixed rate mortgage, you're locked into a specific interest rate and payment amount for the entire term of your mortgage, which can make it difficult to make changes if your financial situation changes. Option to lock in your rate. Although a variable rate mortgage is subject to fluctuations in the market, most lenders will allow you to switch to a fixed rate mortgage at any point during your term. To read the expanded version of this post, please click below!