What is a blended mortgage?

A blended mortgage is a type of housing finance that mixes both fixed and variable rates. It usually allows for a blend of the two rates throughout the duration of the loan term. Blended mortgages provide some increased financial stability to those who choose to purchase them over a variable rate plan.

What if you blend and extend your mortgage?

Now, let’s assume current fixed mortgage rates are around 2%. If you were to blend and extend your mortgage, you’d get a rate somewhere in-between the two rates, so around 2.79%. Your term would then be extended by two years to go back to a five-year term.

What is a blend-to-term mortgage?

If you were to blend and extend your mortgage, you’d get a rate somewhere in-between the two rates, so around 2.79%. Your term would then be extended by two years to go back to a five-year term. With blend-to-term, you still get a blended interest rate, but there’s no time added to the term.

Why should citizens invest in blend?

By investing in Blend’s digital solutions, Citizens modernized their customer-first approach. Discover a thriving partnership fueled by innovative solutions. Elements Financial’s competitive edge with Blend is more than its member experience, it’s faster closing times and a single platform for mortgage, consumer loans, and deposit accounts.