Founded over two decades ago, Rapid Response Mortgage Services is a full-service mortgage brokerage firm committed to providing you with honest, dependable and successful mortgage solutions.
Fixed Rate Mortgages
With a fixed rate mortgage, payments for the interest rate and the principal remain fixed over the life of the loan. As a result, monthly loan payments stay the same over the life of the loan. Taxes, however, may change according to your local or state tax laws.
Advantages
The interest rate stays the same and it doesn't go up even if rates in the market do
Monthly payments of principal and interest don't change
May be a good choice for homebuyers who plan to own their home for a long time
Disadvantages
May cost more than other loan types the interest rate is often higher than rates for adjustable rate mortgages
A long-term loan may not be suitable for homebuyers planning to move or refinance within 5 to 7 years
“Jim is the best mortgage broker I’ve ever worked with.”