Fixed rate student loans are best for most borrowers, but variable rates can be a money-saver. Here's how to decide on a fixed or variable student loan.
Which is better? Variable or fixed rate mortgage? We hate to say “it depends” but… it depends. These days, with fixed rate mortgages being popular and competitively-priced, and with interest rates low, they usually come out on top. ...
That interest rate can either be fixed or variable. When the interest rate is variable, it can change over time. That means both your monthly payment and the overall amount of interest you’re set to pay over the life of the loan are subject to change. Think a variable-rate loan makes ...
Ever heard of an adjustable-rate mortgage, or ARM? It’s slightly different than a fixed-rate mortgage and has its own advantages and disadvantages. Read this guide to learn more.
An adjustable-rate loan is also commonly called a variable-rate loan. Pros of fixed-rate mortgages The biggest advantage of using a fixed-rate mortgage is that it keeps your monthly mortgage payment consistent. Other monthly costs -- such as insurance, property taxes, and HOA fees (if appl...
An adjustable-rate loan is also commonly called a variable-rate loan. Pros of fixed-rate mortgages The biggest advantage of using a fixed-rate mortgage is that it keeps your monthly mortgage payment consistent. Other monthly costs -- ...
Borrowers may also have the option of unlocking their rate during the loan term if interest rates fall. "Unlocking a fixed rate would return that balance to your variable-rate bucket and payment, says Loots. It's not uncommon for lenders to allow borrowers to have multiple locks on their ...
Better to Stick with Variable; While Rates Are on the Move, It Is Best to Keep Your Loan FlexibleRATES are on the move Co the big question now is whether you stick with the variable rate, or move to a fixed one. This is something you'll have to decide for yourself, based on your...
15-year fixed-rate mortgage: 6.03%8 How to Compare Mortgages Banks, savings and loan associations, and credit unions were once virtually the only sources of mortgages. Today, however, a burgeoning share of the mortgage market includes nonbank lenders such as Better, loanDepot, Rocket Mortgage, ...
A 2.5% fixed-rate loan is better then a 2.5% variable-rate loan. The security of knowing the interest rate will never go up is valuable. This is especially true for long-term loans. If you are going to repay your loans quickly, it might make sense to opt for the lowest possible vari...