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Expert Insights: What Is a Two-Step Mortgage?

Expert Insights: What Is a Two-Step Mortgage?

Not to be confused with a biweekly mortgage, this type of home loan is also known as 5/25s and 7/23s. It has one interest rate for part of the life of the mortgage and a different rate for the remainder of the loan. Two steps are 30-year mortgages. They can either be...
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