What are fixed rate vs. adjustable rate mortgages? - PAK Region - USA Mortgage
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PAK Region – USA Mortgage

The PAK Region and USA Mortgage can help you with all of your mortgage needs.

What are fixed rate vs. adjustable rate mortgages?

The PAK Region at USA Mortgage has
your home purchase and refinance covered

What are fixed rate vs. adjustable rate mortgages?

Fixed Rate Mortgages These programs are typically either on a 15 year or 30 year amortization or repayment schedule. These programs provide the most security in the sense that the required monthly principal and interest payments will not change for the life of the loan. This is because the interest rate is fixed for the entire life of the loan, thus it is called a 15 or 30 year fixed program.

Adjustable Rate Mortgages (ARMs) All of our ARM programs are based on a 30 year amortization or repayment schedule. These loans are referred to as adjustable rate mortgages (ARM’s), because the interest rate will change or adjust on a predetermined schedule. ARM’s have an initial fixed period that the interest rate will not change or adjust. After this initial period the interest rate will change or adjust based on a market index plus a margin. There are limits to how much your interest rate can adjust in any given adjustment and over the life of your loan. A periodic rate cap, would limit the amount of any single adjustment and a lifetime rate cap limits the cumulative amount of any adjustments over the life of the loan.

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Customer Reviews

  •      Reviewed by Mustafa S. for John Amini

    I highly recommend, John Kaba amini as mortage banker for many reasons which includes his knowledge, patience, timeliness, honesty and attention to the needs of his client. John is very engage in the process which gives you the confidence to feel as is he is a member of your family; He has your best interest in mind. John has been a Realtor for me and friends for many years. John always took the time to explain. And we really appreciated that. It made us feel

  •      Reviewed by Charles W. for Ralph Harr

    Ralph is awesome to work with. He is prompt in returning messages and either had the answers to my questions or found them quickly. He is courteous, honest, direct and I trust his opinion. This is my third mortgage with Ralph and I plan on more. Honestly, there is no one else I would work with on a mortgage now!

  •      Reviewed by Jenny M. for Tina Ripple

    Tina is very skilled and professional in her career. Her personality and people skills are very heart felt. Tina made sure everything was in order before and during my closing process. Tina is accurate, consistent and efficient, which is some of the many reasons you will love working with her. Tina is definitely going to make sure your process go through smoothly with no stress. Tina is number 1. Awesome Awsome Awesome I was truly blessed to have Tina on my team. Thank you Tina!!

  •      Reviewed by Margaret K. for Christina Anthony

    Christina Anthony is great at her job! She made me feel like I was her priority. She answered all my questions clearly & prompt. She also had a way of putting me at ease when I was stressed. I will be recommending her services to all of my friends & family:)

  •      Reviewed by Steven A. for Audrey Poursine

    Audrey was very professional and organized. My wife and I highly recommend her. 100% satisfaction is an understatement. Audrey went above and beyond and truly cared about every detail of our purchase. She is very pleasant and with many years of experience. We will recommend her to everyone we possibly can!

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Equal Housing Opportunity

DAS Acquisition Company, LLC dba USA Mortgage NMLS: 227262. Not a commitment to lend. Additional terms and conditions apply.

Interest rates and products are subject to change without notice and may or may not be available at the time of commitment or lock-in. DAS Acquisition Company, LLC is not affiliated with or endorsed by any government entity or agency, including USDA, HUD or VA. AZ License Number: 942577.

Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Licensed under the Oregon Consumer Finance Act, OR License #ML-5723. OH #RM.850291.000.

Headquarters:
12140 Woodcrest Executive Drive, Suite 150, St. Louis, Missouri 63141, Toll Free: (888) 250-6522. For licensing information, go to: www.nmlsconsumeraccess.org.

Licensed lending areas:
Alabama, Arizona, California, Connecticut, District of Columbia, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Maryland, Missouri, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, Wisconsin.