Information Coming Soon... 
Financing Your Home >Watch Your ARMs Length Most buyers know that first-year interest on Adjustable Rate Mortgages (ARMs) is typically lower than the interest on available fixed-rate mortgages. This makes ARMs easier to qualify for, but also requires that borrowers have some understanding about how such loans work, because there are significant details associated with the low first-year rate.
First, check to see how long the low rates offered on the ARM are guaranteed. After that period of time, the rates can go up two points a year to a typical rate cap of six points over the life of the loan. Lenders will usually require borrowers to qualify for a mortgage loan that is several percentage points above the actual initial rate charged on the ARM. This is intended to keep borrowers from becoming overburdened by debt. Some lenders may charge special fees or caps which can increase the cost of the loan. If you think that an ARM may work for you, it is a good idea to shop around.
|
 |
| Q |
What is one of the most common ways for making the interior of a home more appealing to buyers?
|
| A |
Repainting walls with light, neutral colors makes it easier for a buyer to visualize how the home will look with their possessions. |
 See More Real Estate Trivia > |
|
|
Get the Latest Listings Before Anyone Else!
As soon as I list another home for sale, I'll email you. You'll know first.
Find Out More >
|
- NUMBER1EXPERT 
