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). Remember, a pre-approval isn’t the same as officially getting a mortgage.

Pre-approval

Redfin

AUGUST 5, 2025

This means when a seller receives a cash offer (with proof of funds) they can be almost 100% confident the deal will quickly make it to the closing table. Avoid paying interest: By paying all cash and not taking out a mortgage, you can avoid paying interest. Closing costs still apply: Closing costs don’t only apply to mortgages.

Earnest money deposit

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. Earnest money deposit.

Purchase and sale agreement