Is Now A Bad Time To Get An ARM Loan?
When looking at different mortgages, an ARM loan can be very appealing at first sight. Arm loans, as previously discussed, offer teaser rates in the beginning which usually reset after a few years. This teaser rate often gives individuals a false sense of security in what they can and can’t afford. You [...]
Is it Best to Payoff a Mortgage as Soon as Possible?
Many people do not like the idea of being in debt, as they shouldn’t, and pay extra each month to attempt to pay off their mortgage early. This is usually an emotional or psychological based decision, not financial or mathematical. There are reasons to pay a mortgage off early, but there are also [...]
Basic Home Mortgage Products Explained
There are two basic types of home mortgages, adjustable and fixed. Most people know the acronym for adjustable mortgages, ARM (adjustable rate mortgage). While there are other mortgage products, these two are the major two types that most everyone uses when buying a home.
ARMs
Like the name suggests, the interest rate on this [...]