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Washington Mortgage Interest Rate

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If you have any questions regarding the current Washington mortgage interest rate, it really depends on the type of loan program you are pursuing. There are, for example, fixed-rate loans and adjustable-rate loans, to name the most popular. Additionally, perhaps a balloon mortgage or jumbo loan may apply to your home financing needs. Which is right for you, and how can you find a typical Washington mortgage interest rate that would accompany it?

For aspiring home buyers who are looking for the very lowest Washington mortgage interest rate because of poor credit, an adjustable-rate loan is often recommended. These mortgages feature, instead of a static interest rate over the life of the loan, one which fluctuates with the current market. When the Washington mortgage interest rate average goes up, so do the rates on your own mortgage. If this sounds like a bit of a gamble, it is, in a way. However, there are benefits to this type of loan.

When you have poor credit, it can be difficult to find lenders who are willing to give you mortgages. Or, perhaps you are only able to find banks who will lend to you at exorbitant fixed rates. An adjustable Washington mortgage interest rate is, typically, quite low initially. For this reason, these loans don't necessarily exclude people with less money to spend at the outset. Contact us at First Union Home Loans for more information on this and other types of loans!


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