Debt-to-income ratio Fixed-rate mortgage Proof of funds 
Redfin
JULY 30, 2025
What’s the difference between a fixed-rate mortgage and adjustable-rate mortgage? When choosing a mortgage, you’ll need to decide between a fixed-rate mortgage or an adjustable-rate mortgage (ARM). On closing day, bring your ID, proof of funds, and the closing disclosure.
The Close
DECEMBER 29, 2022
It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. A convertible ARM is a mortgage with a much lower interest rate at the start of the loan, where the interest rate fluctuates during the life of the loan, usually every six months. Debt-to-income ratio (DTI).
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