Fixed Rate Jumbo Loan

The most common type of mortgage program where your monthly payments for interest and principal never change. Property taxes and homeowners insurance may increase, but generally your monthly payments will be very stable. Fixed-rate mortgages are available for 30 years, 25 years, 20 years, 15 years and even 10 years.

With a Fixed-Rate Loan, you’ll have one interest rate for the life of the loan. This means your payment will always stay the same, even if interest rates go up.

Granted fixed loans are the most popular and most stable when rates are concerned but are they the right loan for you. Lets take a look at a scenario where a fixed rate mortgage is NOT the borrowers best choice.

Loan Purpose: Refinance Purchase

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