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The long, fixed-rate period<\/b> – A fixed introductory interest rate in a hybrid mortgage that lasts for a good amount of time.\u00a0<\/p>
The fixed-rate along with the ARM in the mortgage lets you enjoy the benefits of both mortgage types.<\/p>
Possibly lower starting payments<\/b> – A lower starting interest at the beginning of the mortgage compared with other fixed-rate mortgage products is an additional benefit with a hybrid mortgage.\u00a0<\/p>
You can save upfront because a lower interest rate can offer you a lower mortgage payment.\u00a0<\/p>
What you save from the introductory period can be used elsewhere in the new home, like furnishing, improvements, or decor.\u00a0<\/p>
If the rates trend downward, then it can also lead to long-term savings.<\/p>
Rate caps<\/b> – Even if the rates increase after the fixed period but they can\u2019t increase uncontrollably.\u00a0<\/p>
Since hybrid mortgages have rate caps, there are few guidelines for the amount that your rate can change.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t