Overwhelmed by your options? You don't have to be. Develop a "3-D" picture of yourself. It will help you determine where you stand in the loan landscape.
Fixed Rate Mortgages
Fixed rate mortgages are the simplest. Your payment will not change over the life of your loan because your interest rate cannot change. These are among the most popular loans for those reasons.Adjustable Rate Mortgages
Adjustable Rate Mortgages, ARMs, offer a lower starting interest rate and therefore, a lower monthly payment. Your rate and monthly payment may increase after the initial fixed rate period.