Comparison of New Hampshire mortgage types
* Interest rates on adjustable-rate mortgages begin low so you have lower monthly payments. But when the rate adjusts payments will increase if the rate increases.
* Interest rates on fixed-rate mortgages don’t change and therefore, neither will the monthly mortgage payment.
* Second mortgages are available with either fixed or adjustable rates.
A home equity line of credit offers an adjustable rate whereas interest on a home equity loan is fixed.
