What Interest Rate is Charged on outstanding balence

Need a bit more information from you to give you a good answer. Please resubmit and I along with the other contributors will help you by providing you with an answer! Scott.

Need more information.

Your question is confusing.. if you have a fixed rate mortgage, then the interest rate never changes throughout the length of the loan.. if you have an ARM rate, then typically, those rates are tied to an index and then a spread is added to the index to determine what your rate will be for that year.. and of course, it changes every year.. But Home Equity Lines of Credit (HELOC'S) work just like ARM's, except the rate changes monthly.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347