Fixed vs Adjustable Rates

Fixed vs Adjustable-Rate Mortgages: What’s the Difference? Choosing between a fixed-rate and adjustable-rate mortgage is a big decision. Here’s what you need to know:

Fixed-Rate Mortgages:

  • Interest rate stays the same for the life of the loan

  • Predictable monthly payments

  • Typically a better choice if you plan to stay long-term

Adjustable-Rate Mortgages (ARMs):

  • Lower initial interest rates

  • Rates can adjust after a fixed period (e.g., 5/1 ARM)

  • Potential for lower initial payments but higher risk long-term

Next Steps: Need help deciding which loan type is right for you? Contact Parish Lending for a personalized rate comparison.

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