One of the most important decisions potential home buyers make when purchasing a home is whether to choose a fixed mortgage, or opt for a variable mortgage.
What does this really mean?
These terms refer to the interest rate on the mortgage loan.
Fixed mortgages have an interest rate that’s set in the beginning. The rate doesn’t change throughout the life of the loan. Home owners choose this type of mortgage when mortgage rates are low, so they can lock it in. A fixed rate also assists in easier budgeting, because the monthly payment stays the same. Another reason to opt for a fixed mortgage is if the purchaser will be living in Doylestown for several years and not moving from the home.
Variable mortgages, also called adjustable rate mortgages, begin with one interest rate that may change over time as the market shifts. These mortgages often offer lower interest rates in the beginning than fixed rate mortgages, which attracts home buyers who want a bigger home than they can afford with a fixed mortgage. Buyers who are moving up in their jobs and are confident they will be able to afford the monthly payment if the rate increases might also think an variable mortgage is attractive. If interest rates are high, a variable mortgage can get home buyers into a house for the short term, and then hopefully the rates will go down and they can refinance.
Looking for a home mortgage in Doylestown requires thinking about the type of mortgage that is best for each individual buyer. While fixed mortgages are typically viewed as a “safer” choice, variable mortgages are also smart options in certain situations. The decision, in the end, is up to each buyer and their personal preferences and needs.
Patrick Mallon
Federated Lending has great customer…
Federated Lending has great customer service, a very knowledgeable staff, and made re-financing an effortless experience.
Kristen Katzianer
Easy process from start to finish
Easy process from start to finish. The underwriter should make more money.
Jorge Figueroa
Federated Lending Is Fantastic and Honest
This was such an easy transaction. What is probably the most stressful thing to do Andy and his Team made this absolutely seamless. Everything was done perfectly and right on time. Zero issues at the closing table and it all went exactly as it was explained. I was prepared for so many things to be a push up and there was none of it. NONE! I cannot say enough ...
Mike Pawlikowski
Federated Lending comes through again
Federated Lending comes through again. Tom K. and Federated Lending team helped me through the process of getting my original mortgage and now again with the refinance. They made the process very easy and I am extremely happy with the end result. I would strongly recommend if your looking for a mortgage or refinance that you reach out to the Federated Lending Team.
Shawn Cannon
Second time working with Vince
Second time working with Vince. Have had nothing but great experiences. Highly recommend!!
Bart Cerami
Andrew Larson and Federated Lending made refinancing my home simple, and saved me a lot of money in the process. And Andy continued to assist me after the closing when I had a question regarding my local tax payment. I have already recommended him to several of my friends and will continue to do so. Thanks Andy!!
Katie Novak
Federated Lending was a great mortgage…
Federated Lending was a great mortgage company to work with! We were able to ask questions and get immediate answers.
Megan Detwiler
We were happy with our experience. Initially there was a step missed that caused a slight delay, but we couldn’t be upset because it ended up getting us a lower rate overall. We were able to sign the documents in the comfort of our own home which was super convenient and appreciated. Would recommend!
Jacob Desperak
Wonderful and easy experience!
My wife and I had a very good experience with Fedlend thanks to Andy and Kathy. We couldn’t be more thankful for all the help and guidance we received along the way. Would definitely recommend to all home buyers, as we will use Fedlend for our next purchase or refinance.
Elaine Punchello
I've trusted Federated Lending multiple…
I've trusted Federated Lending multiple times for my home mortgages. They make what can be a difficult process easy to get through. I've never had a delay in a settlement because of my mortgage, which is a frequent issue with other lenders. I'll continue to use them and recommend them. Thanks!
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