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Posted by Lavinia Woodburn, Mortgage Agent on 08/05/2016

Understanding Rates & The Terms Associated With Them

Understanding Rates & The Terms Associated With Them

Due to fluctuating financial markets, mortgage rates are always changing.    It is our commitment to you that you will always be provided with the lowest rate for which you qualify for based on the mortgage terms and the options you are looking forIt is necessary to remember that all mortgages, even those presented at the same rate, will have very different terms, including prepayment options, refinancing penalties, restrictions, fees and more, and therefore the terms of the mortgage are as important, if not more important, than the rate itself.  Exceptionally low rates are often "no-frill" mortgages, which means your borrowing terms are very strict and may end up costing you far more than expected later down the road.  Make sure you fully understand the terms of the mortgage no matter how good the rate seems, failing to do so will often be a costly mistake down the road.








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