Types of Mortgage Loans - Schlumberger
Fixed Rate Mortgages have an interest rate that is fixed for the term of the loan. Adjustable Rate Mortgages aka ARMs. These loans can be either Conventional or Jumbo, and have a fixed interest rate for the first 1, 3, 5 or 7 years. The initial rate is lower than the market rate for fixed rate mortgages. ................
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