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A home loan with an interest rate that remains the same for the entire term of the loan. Adjustable-rate mortgage (ARM) Also called a variable-rate mortgage, an adjustable-rate mortgage has an interest rate that may change periodically during the life of the loan in accordance with changes in an index such as the U.S. Prime Rate or the London.
FHA Home Loans in Paluxy, TX. Since fixed-rate home loans and adjustable-rate mortgages are the most common in Paluxy, TX, your decision should center on either of the two. However, other options are worth your consideration. These are none other than regular of government-insured mortgages.
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