A fixed-rate mortgage keeps your interest rate and monthly payment the same for the life of the loan, while an adjustable-rate mortgage (ARM) starts with a lower rate that can change over time based on market conditions. Choosing the right option depends on how long you plan to stay in the home, your risk tolerance, and your financial goals—especially when buying in areas like Lake Marion, SC. /*!...
Fixed-Rate Mortgage
When it comes to buying a home in Santee, SC, or any other area, interest rates play a crucial role in determining your monthly mortgage payments, total cost, and even your ability to qualify for a loan. Understanding how interest rates impact your home purchase can help you make more informed decisions, potentially saving you thousands of dollars over the life of your mortgage. Let’s break down how...