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Page 18 · column 6 of 6 · from the scan, no model involved
Hardware r
Complete One-Ster
BUILDING SUPPLY
Warrenton Building
Material Co., Inc.
on the By-Pass, Warrenton
347-1400
i^P^Sa^cEstate
SKS.T5ST1 Eileen M. Day wltm
CHOICE - VARIABLE
OR FIXED LOAN
If you plan to buy a home in the near future, should you select a variable or a fixed loan? Actually, this should be a last-minute decision, not made until a home is actually selected.
The financing market changes often enough so that the best financing mode one month may not be the best the next month. Most experts consider the length of time the mortgage will be in effect as the primary input when choosing between a fixed and variable mortgage.
If you expect to live in the house for a long time and you feel that interest rates will increase, you may lean toward a fixed rate. An equally sound case can be made for accepting the lower initial interest rates offered on variable rate mortgages. If you don’t expect to live in the home for a very long time, the variable rate mortgage would be the answer.
Also, since the variable rate mortgage carries a lower initial rate, thus lowering the income qualification for a loan, this may be the only alternative for certain buyers.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, VA. 22747. Phone: 6753400. We’re here to help.
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