A Little Known Fact About Variable Rates
Did you know that there are two types of variable rates?
They’re known as standard rates and basic rates and choosing the right one could save you thousands of dollars a year on your mortgage.
Standard rates have lots of features, meaning you can pay off your home loan faster but they often have higher interest rates.
Basic rates have very few features which may restrict how quickly you can pay off your loan but they tend to have lower interest rates
There are pros and cons to both of these options and the right one for you is completely dependant on your personal situation.
To find out which one is right for you, let’s talk.
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