Like all savvy shoppers, you’re always on the prowl for a better deal. And we’re not just talking about bells and whistles. You even want to shop around for those few tiny digits that make a big difference on your pocketbook – your mortgage rate. But it can be difficult to know where to start. Good news: You’re our kind of homebuyer, and we’re your kind of credit union.
There are lots of reasons to renew or refinance your mortgage, and lots of reasons to do so with Interior Savings. The bottom line is that you shouldn’t feel stuck with your mortgage. It should work for you. You deserve a mortgage that fits your lifestyle, and you deserve a bank that makes that as easy as possible. If you are a First Time Home Buyer, be sure to download our FREE First Time Home Buyer Checklist to help you navigate your milestone purchase.
Here at Interior Savings, we have a team of Mobile Mortgage Specialists who are ready to meet you any place that’s convenient, at whatever time works best for you. (We told you we wanted to make it easy.) We know that life gets busy, and normal branch hours aren’t always ideal. Our Mobile Mortgage Specialists don’t just serve your community – they live in it, too, so they know how to get you the right kind of mortgage for your needs.
One thing to consider is if you want a fixed mortgage rate or a variable mortgage rate. A fixed mortgage rate means your interest rate and payments don’t change for the term of your mortgage. While the market rate may fluctuate, yours doesn’t. Once your mortgage is set up, you can budget for the same amount every month. Fixed rates, however, are typically higher than variable rates.
A variable-rate mortgage means your interest rate – you guessed it – varies with the market. If the market is right, you can pay off your principal quicker. The flipside is that the market doesn’t always work in your favour. When market rates go up, and they eventually will, so does your mortgage rate. Before choosing a variable-rate mortgage, make sure you can afford a rate increase. Whether you choose a fixed or variable rate depends on your individual needs and your risk appetite.
Still have questions? That’s what our Mortgage Specialists are for. With their expert insight, they’ll help you navigate these nuances and find the mortgage that best fits your needs. You’ll be surprised by all the options – and you may also be surprised to find that we offer some of the most competitive mortgage rates around.