Waterloo Mortgage Rates and Home Loans

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3.75% APR - 4.00% APR
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Mortgage rate quotes displayed on LendingTree LoanExplorer, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech, a registered trademark of Zillow, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.


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What Is an Adjustable-Rate Mortgage?
Adjustable-rate mortgages have their own set of pros and cons. Learn what they are before you sign on the dotted line. Unlike a fixed-rate mortgage where the interest rate remains the same for the life of the loan, an adjustable-rate mortgage (ARM) has an interest rate that can increase or decrease several times during the mortgage term. ARM’s are riskier for the borrower, especially if interest rates take a significant uptick, but they are the right in many instances. Learn more about adjustable-rate mortgages and compare them to conventional fixed-rate mortgages before you start shopping for your dream home so that you go into the process with everything you need to know.
Mortgage Pre-qualification and Pre-approval
PRE-QUALIFICATION - This is an easy first step to show sellers you’re getting serious about buying. In order to get a mortgage pre-qualification letter, a loan officer will make a general assessment of your financial situation. They’ll be able to gauge whether or not you can get a loan and how much money you can get. PRE-APPROVAL - Once you’ve gotten a better idea of your financial picture, you need to get pre-approved. It’s important to time your pre-approval with when you’re ready to buy because a pre-approval letter expires in 60 to 90 days. Pre-approval is a conditional promise from a bank or lender that they are willing to lend to you, and for what amount.