[Tempe, 06/30/2017] — Customers looking to finance their home can apply for either a fixed- or adjustable-rate mortgage from Primary Residential Mortgage, Inc. The firm helps customers find the mortgage rate that fits their needs.

Overview of Fixed and Adjustable Rate Mortgages

Customers who would like to apply for a fixed rate mortgage can expect a consistent interest rate for the life of the loan. As the interest rate and the principal would stay constant over the term, customers can manage their money with more certainty.

An adjustable rate mortgage (ARM), on the other hand, has an interest rate that varies over time. This type of mortgage often begins at a lower interest rate, which goes up as time passes. This means that while the initial rate may remain constant for months during the introductory period, the interest rate and amount of payment will change. The good news is that customers can take advantage of falling interest rates without refinancing, which often involves paying for closing fees and costs all over again.

The Mortgage Firm’s Two-Step Loan Application Process

The mortgage firm has a simple two-step loan application process. The first step involves an initial consultation with a loan officer regarding the different loan rates, programs, closing requirements, and timelines. This step also asks for information that will allow the mortgage firm to start the pre-qualification process.

Once the customer is under contract with his or her new home, the loan officer will begin collecting the documents needed to close the loan. The customer will then receive a checklist that provides the type of requirement and the corresponding deadline. A loan officer will get in touch with them should the application require additional documents. After processing and underwriting, the customer will be ready to sign for the new home in 48 hours.

About Primary Residential Mortgage, Inc.

The company has a team of loan officers that can help customers with all their mortgage needs. Its goal is to help customers live the American Dream by providing an easy, convenient online application for home loans.

For more information, log on to http://www.prmiloans.com.