The interest rate is tied directly to how much you pay on your mortgage each month. Lower rates equal lower payments. You may be able to get a lower rate due to changes in market conditions.
You may want a mortgage* with a longer term to reduce the amount that you pay each month. However, this will also increase the length of time you will make mortgage payments and the total amount of interest you will pay over the life of the loan. You may want to decrease the length of your mortgage to reduce total interest and payoff your home mortgage sooner.
Use your home's equity to consolidate debt, pay for college, or make home improvements.
For more information or to apply for a loan, schedule an appointment with an AuburnBank Mortgage Originator today.
*All loans are based on approved credit.
*Account disclosures are provided at application.