What is the difference between a fixed-rate loan and an adjustable-rate loan?

With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.

Leaders Credit Union offers mortgage loans at affordable rates.  

Ready to get started? Apply online today! 

For more information regarding pre-approval and mortgages with Leaders Credit Union, feel free to contact a Loan Officer today! 

 

Keep tabs on your Credit Report for better borrowing

The first step to financial fitness is knowing where to start. View your Credit Score for free, inside the Leaders Credit Union mobile app or request your free Financial Wellness Check-up in-branch with your Leaders Financial Champions.

Schedule your free check-up or download the Leaders Mobile App to get started with your Credit Score.