Fixed Rate vs Variable Rate Mortgage

Are you trying to decide between a fixed rate and variable rate mortgage? As a mortgage agent, I understand that choosing the right type of mortgage can be a daunting task. That’s why I’m here to help you navigate the different options and find the best one for your unique needs.

Fixed rate mortgages have a set interest rate for the entire term of the mortgage, which means your monthly payments stay the same. This option provides peace of mind and helps you plan your budget accordingly. On the other hand, variable rate mortgages have interest rates that can fluctuate throughout the term of the mortgage. This means your monthly payments may vary, depending on the current interest rate. However, variable rate mortgages generally come with a lower interest rate and can result in significant savings over time.

When deciding between a fixed rate and variable rate mortgage, it’s important to consider your personal circumstances and financial goals. If you value predictability and want to lock in a consistent monthly payment, a fixed rate mortgage might be the right choice for you. If you have a higher risk tolerance and are comfortable with the potential for fluctuating monthly payments, a variable rate mortgage may be a better fit.

As your mortgage agent, I can help you understand the pros and cons of each option and guide you through the decision-making process. I have access to a wide range of mortgage products and can help you find the best one for your unique needs. Contact me today to learn more about your options.

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