Ride The Line
. . . because getting a fixed-rate loan might not be the best fix.
Q:With the recent drop in interest rates, is now a good time torefinance my floating-rate loan?
A:Probably not. It's possible to get a fixed-rate loan, but notall lenders offer that option. If yours does, the initial rate onthe fixed-rate loan will likely be higher than that on thefloating-rate loan. Also, to avoid keeping their money tied up forlong periods of time, lenders usually make fixed-rate loans atshorter terms than when they float with the current rates.
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Entrepreneur Editors' Picks
-
This Co-Founder Was Kicked Out of Retailers for Pitching a 'Taboo' Beauty Product. Now, Her Multi-Million-Dollar Company Sells It for More Than $20 an Ounce.
-
Have You Ever Obsessed Over 'What If'? According to Scientists, You Don't Actually Know What Would Have Fixed Everything.
-
After He Was Fired From the UFC, This Former Fighter Turned His Passion Into a Thriving Business
-
Most People Don't Know These 2 Things Are Resume Red Flags. A Career Expert Reveals How to Work Around Them.
-
How One Woman Turned Pandemic-Induced Boredom and a Makeshift Garage Art Studio Into a Thriving Franchise
-
Use These 4 Self-Care Rituals for More Resilience and Less Depletion
-
Shark Tank's Barbara Corcoran Wants to Invest in 'Someone Who Probably Needs a Good Shrink Instead of a Business'