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The Basics of Interest Rates

Last updated 5 years ago

Applying for a mortgage is an important step to take when getting ready to purchase a new home. These home loans allow individuals and families to buy homes and move in right away while slowly paying back the loan over time. In addition to the loan amount, homeowners are also responsible for paying the interest rates specified during the application process. An interest rate is typically a percentage of the home loan amount that gets added to the monthly required payments. Lenders get to keep the amount of the interest rate in exchange for providing homeowners with the loan.

Do you want to learn more about interest rates or other financial aspects of purchasing a new home? If so, contact Century Communities today. Take a look at the financing section of our website for a more detailed look at how to acquire a loan for your new home, or visit for more information about our homes for sale in the Denver metro area.


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