More information of Fixed-Rate Mortgage
Fixed-rate mortgages have the advantage that you always pay the same thing every month, so you can make a forecast and you won't be surprised if the reference rate goes too high, as happens with ARMs (Adjustable Rate Mortgages)
Through the Wells Fargo website you can carry out a simulation to find out what you will pay for your mortgage according to a series of variables about you and the home you want to buy or refinance.
The bank will then offer you a series of alternatives to finance you, among which there may be several fixed and several ARMs. Among the mortgages with a fixed interest rate, you can choose a term of 15, 20 or 30 years.
The data indicated above is for a home with an appraisal value of $300,000 USD, for which you contribute a down payment of $60,000, which will result in a loan of $240,000 dollars. The house is located in Queens (New York) and an excellent credit rating has been assumed.
You can start the application online, indicating your personal, work and home information. You can also send the documents that the bank requires through the website and thus receive a response without having to go to a Wells Fargo branch.
Español: Hipoteca con tasa fija de Wells Fargo