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Santander Bank mortgages are now offered by Rocket Mortgage, which specializes in this type of loan and offers the bank's customers preferential terms and a savings on closing costs of $500.
Unlike a fixed-rate mortgage loan, Santander Bank's variable mortgage has more attractive interest rates. Add to this the possibility of saving interest if you plan to finance later and the imposition of limits to prevent your monthly payments from rising too much.
With this banking product, you get a fixed interest for the first few years and then the rate is adjusted every 6 months. This means that:
Santander Bank's adjustable-rate mortgage is designed for those who are looking to pay faster and are not afraid of the ups and downs of the economy. Even so, many entities offer these ARMs and you can learn more about them using the Busconómico search engine, such as the adjustable-rate mortgage from M&T Bank Bank or the one offered by 5/3 Bank.
English: Hipoteca Variable de Banco Santander