Are you in the market to buy a home and unsure about the type of mortgage you want to get? This quick video covers the basic components of a Fixed Rate Mortgage.
Jason Lang of the Lang Team of Mortgage specialists defines the fixed rate mortgage as one where the interest rate you negotiate at the beginning of the term, does not fluctuate with changes in the prime interest rate.
Seem to simple? It probably is. There are other factors when considering the type of mortgage that works for you and we’d suggest reaching out to Jason Lang of the Lang Team of Mortgage Specialists.