What are the risks of variable rate mortgages?

By
Managing Real Estate Broker with Maxus Realty Group of Samson Properties Broker - Realtor - CEO

Maxus Realty Group Agents are local specialists with knowledge to help you buy and sell the right home, at the right price.

We are passionate about you as a client, we will always protect your best interests just because it's the only way we do business day in and day out.

Today, we'll talk about What are the risks of variable rate mortgages?

 

 

With mortgage rates  going up in the first few months of this year, I can understand why home buyers in the next few months would be considering choosing a variable rate mortgage instead of a fixed rate. 

One of the main reasons why anyone would take on  a variable rate is to save money. 

 

Variable-rate mortgages can change in line with changes in the prime rate, unlike fixed-rate mortgages.

The rates are much lower than a fixed rate mortgage and there are benefits that could be beneficial to some buyers,

But they could also cost you a lot of money if you do not plan it well...

 

 

READ MORE: https://www.maxusrealtygroup.com/blog/2562/What+Are+The+Risks+Of+Variable+Rate+Mortgages+

 
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