Buying a home is an exciting life milestone. Having a team to support you throughout the process makes it even better. At VyStar Credit Union, we are here for you every step of the way. That includes being available to answer questions you may have.
One common question that homebuyers have is whether they should choose a fixed-rate mortgage or an adjustable-rate mortgage. As their names suggest, there are some key differences between the two options. The main difference being that your interest rate will never change with a fixed-rate mortgage while an adjustable-rate mortgage allows for added flexibility.
You can compare different types of mortgages on our website, but one option that is worth considering is VyStar’s 10/5 Adjustable-Rate Mortgage (ARM). In today’s financial market, you may be looking for a reduced mortgage rate that best fits your needs. This is one ARM that can lend you a helping hand.
VyStar’s 10/5 ARM provides rate protection with a decade at a fixed rate. With an initial fixed rate period and adjustments only once every five years thereafter, this is truly a safer ARM in a rising rate environment. Other benefits of VyStar’s 10/5 ARM include:
As low as 5% down
Loan amounts up to $3 million
No semi-annual rate adjustments
When it comes to buying a home, it is important to plan ahead and learn about your mortgage loan options before making a large purchase. Enjoy the peace of mind of knowing you have secured a comfortable and reliable loan option that is best for you.