 |
5-Year Fixed Rate Mortgage
5 year fixed rate mortgage terms continue to be a popular choice with borrowers looking to maximize the lowest possible interest rate. The 5/1 ARM is a mortgage loan that features a fixed rate for the first 60 months of the term. After that the 5-year loan converts to an adjustable rate mortgage for the remaining 240 months. In most cases borrowers sell their house or complete a refinance loan prior to the adjustable rate conversion.
Savvy borrowers like the 5-year mortgage because it maximizes the lowest possible rate for 60 months. Take advantage of our low rates for home buying or refinancing. At Nationwide, you can be sure you will be working with the best mortgage lenders online.
|
 |
 |
|