More information of Fixed-Rate Mortgage
With Citibank you can choose between fixed-rate and adjustable-rate mortgages to finance the purchase of a home or refinance your current mortgage loan to improve conditions and save a good amount.
In this case we are analyzing fixed-rate mortgages, which are those in which the annual percentage you pay for interest does not change throughout the life of the loan, so you will pay the same every month and you will be able to know the total amount of interest you will pay before signing the contract.
This type of mortgage has the advantage that you do not get surprises with the installments, but in the event that official interest rates drop a lot, you will be paying an extra cost that users of variable-rate mortgages will not pay.
Citibank allows you to choose between a return term of 15 or 30 years. The shorter it is, the higher the monthly fee, but the less interest you will pay.
The ideal is that you stay with a monthly payment that you can comfortably bear, but not too low, so as not to overextend the period and pay too much interest.
Through Citibank's online calculator you can make an estimate of your mortgage and apply online.
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