What is an Adjustable-Rate Mortgage?

Adjustable-rate mortgages allow the interest rate on your home loan to fluctuate during its life. When financial markets are unstable, adjustable-rate mortgages can be risky for homeowners because the rate can increase with little notice. On the other hand, this type of mortgage may allow you to purchase a more expensive home. Reach out to Hansen Mortgage Services, Inc to learn more about adjustable-rate mortgages.