find mortgage and refinancing information Akron Ohio

Channel:

We would like to thank the local libraries, schools, and universities for recommending students to visit us when doing research on any of our information topics.
 Please check back frequently as new topics are added and current topics are updated daily.

 

Types of Mortgage Interest Rate


Here is a useful guide to the different types of Mortgage Interest Rates that are available. Mortgage Lenders offer all kinds of different deals when it comes to the interest you pay on your mortgage. Sometimes you may have a choice, sometimes you may not.

Your mortgage is probably the biggest loan you will ever take out, so it is important to get a mortgage with an interest rate that suits you. This will depend on various factors like the type of mortgage selected, your personal circumstances and your plans for the future.

Get independent financial advice before you choose a mortgage. It's an area where you'll probably find expert financial advice helpful.

Capped rate

This is another special limited term arrangement where, although your payments can go up and down, they are guaranteed not to rise above a certain level. So you will benefit from interest rate falls during the capped rate period. When the arrangement finishes, you will then pay the lender's standard variable rate.

Discounted rate

Once again the interest rate will vary, but you will pay a rate less than the lender's standard variable rate. As you might expect, such beneficial treatment can't last forever and after a limited period of time, you will pay the lender's standard variable rate.

Fixed rate

A mortgage where your repayments are guaranteed to stay the same for a limited period of time, usually no less than one year and no more than five years. At the end of the period, you will pay the lender's standard variable rate.

Standard variable rate

A mortgage where the interest you pay goes up and down, usually in line with the Bank of England's base rate.

Standard variable rate with cash back

Same as above with one difference: the lender will give you a sum of money (normally a percentage of the amount borrowed) as an incentive - the 'cash back'- for taking out the mortgage. This can be especially attractive if you need money to make any improvements to your property.

Tracker Rate

Here again, your monthly repayment will vary but only by a certain amount. Your interest rate tracks an index such as the Bank of England's base rate for a pre defined period of time. If, for example, it were guaranteed that you would never pay more than 1% over base rate, this is how it would work. If the base rate were 3%, your interest rate would be 4%; if base rate increased to 3.5%, you would pay 4.5%. Conversely, if the base rate were to fall to 2.25%, you would pay 3.25%.

You may freely reprint this article provided the author's biography remains intact:

About The Author

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Mon. January / 27 / 2020












Is this a good time to refinance your mortgage?  New Hampshire Business Review












IFC invests $5.75mln in Tanzania Mortgage Refinance Company  Ecofin Agency: Economic information from Africa













































































used office furnishings-supplies-equipment-desks-cubicles-service-counters for sale in Akron Ohio   Die cast model cars for sale in Akron Ohio  
used cars for sale in Akron Ohio   unfurnished homes for rent in Akron Ohio

Click here to
OfficeJax free ad space available here

Find used office equipment in Ohio at www.OfficeJax.Has.It

Find the best fleamarkets at www.FleaMarketWorld.Has.It

www.Akron.Has.It

Find electric powered vehicles at www.NoGas.Drives.It

Akron City directory

Free Automatic Link Exchange

Flea Market World

Find homes for rent
in Akron Ohio
www.homes4rent.has.it

iphone-4-less below wholesale prices

 

Place your AD here. Click here for more details.

Click above to place your AD here

[Back to Top]

Ohio RealEstate

auction news and listings for Akron, Ohio

Akron crafts and hobby news center

best home remedies and do it yourself tips

Akron currency trading

Akron Ohio pet news

Advertising and promotions Akron, Ohio

The Akron blogging news center

Akron Ohio web site design news

Akron Mortgaging and refinancing

Web site design tips

 

HOME | SITE MAP

© 2012 - 2020 All Rights Reserved
Increase pagerank with HitsSurfer

free page rank checker and seo evaluation tools 

first second ARM compare rates find the best rates current in your area lenders read reviews calculator adjustable rate loan home lenders brokers quotes florida houston gmac washington interest only 2nd software debt consolidation reverse senior equity texas maryland options lending bad credit  option one ameriquest chase first banks emc residential california miami dallas est branch marketing home company commercial yahoo online bad credit low credit no credit