🏡 Real Estate Vocabulary: Interest Rates! 💰📊

When borrowing money for a home, interest is the cost you pay in addition to the loan amount. The interest rate affects your monthly mortgage payment and the total amount paid over the life of the loan.

🔹 Fixed-rate mortgage = Interest stays the same for the loan term.
🔹 Adjustable-rate mortgage (ARM) = Interest can change based on market conditions.

A small change in interest rates can make a big difference in affordability. Let’s chat about how to get the best rate for your home loan! 📞🏡

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