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How do I understand my mortgage rate?

     
How do I understand my mortgage rate?

Did you ever think you’d need to dust off the old math books to understand the home buying process? It can be confusing when talking terms like mortgage rates and calculating how they play into your home expenses. We’re taking the confusion out by answering your mortgage rate questions.

What’s a mortgage rate?

Simply put, a mortgage rate is the rate of interest charged on a mortgage. It can be a fixed-rate mortgage (FRM) meaning it doesn’t change, or an adjustable rate mortgage (ARM) meaning it fluctuates during the loan’s life.

Continue reading How do I understand my mortgage rate? at Movement Mortgage Blog.

About the authors

Looking to change the home buying process for the better, the Humes Team is here for all of your mortgage needs. No loan is too big or too small. We believe one should treat others as expected to be treated. We pride ourselves in honesty paired with communication to deliver A1 service with great results.

Meet the team

About Movement Mortgage

Movement has grown from a small team of 4 to over 4,000 employees with more than 500 locations across 46 states. Inc. Magazine recognized Movement Mortgage as the fastest-growing mortgage bank in the country.

Learn more about movement