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. Check your free quarterly FICO® Credit Score inside the Leaders Credit Union mobile app or request your free Financial Wellness Check-up in-branch with your Leaders Financial Champions.

FICO is a registered trademark of Fair Isacc Corporation in the United States and other countries.