Utah
Mortgages
Fixed Rate Utah Mortgages
Types
of Utah Mortgages >
Fixed Rate Utah Mortgages
- These are an interest repayment variation.
- You and the Utah mortgages lender agree to fix the interest
rate owed on your loan for a set period of time - usually between
1 and 5 years.
- After the agreed period, the interest rate owed on your loan
usually reverts to the lender's variable rate.
- Good Points: You know exactly what you'll owe. No surprises.
- Bad points. If interest rates drop you may be paying more than
you might have done if you'd gone for the Variable Rate. But interest
rates might rise... At least you're not gambling with your home.
- If you want to leave before the agreed term the early redemption
penalty is usually significant. For example you may be charged
six months gross interest if you leave a five-year fixed rate
agreement.
- Some penalties could even go beyond the fixed-rate period. This
would be an "overhanging redemption penalty". Always
read the small print and ask as many "stupid questions"
as you feel like. You must be clear on what everything means.
Soccer gear
Looking for soccer cleats, a team jersey, jacket or shirt? We have
all the soccer equipment essentials. Soccer shoes, jerseys and more
at Soccersaurus.com
Soccer forum
Join the soccer message board! Chat with other soccer fans and soccer
players!
|
