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Check
Adjustable Mortgage Rates
Looking for a low ARM refinance
or home purchase adjustable mortgage
rates? Use the rate survey at the top
of this page to compare pricing and closing
costs for a variety of ARM products from
a handful of lenders and brokers serving
your area. Adjustable rate mortgages (aka
ARMs) offer a set introductory period where
an interest rate is fixed. Once that set
period elapses, the rate then adjusts either
up or down depending up the loan's margin
and caps, and the current rate of the index
which the loan is tied to. US treasury notes
and the LIBOR are two popular indexes which
many banking institutions currently use.
This can and will vary by lender so be sure
to discuss these factors with a mortgage
professional and weigh the pros and cons
of the various offerings.
Why
Consider Adjustable Rate Mortgages?
ARMs do serve a purpose and can be the
perfect fit for many home buyers and homeowners.
For example, let's say you needed to relocate
to a new community for work and had to list
your existing home for sale. And, while
that was happening, you were planning on
buying a home in your new town. An ARM may
help keep your payments low for a few years
while you sell your existing property and
get settled into work and your new house.
You should however keep in mind that there
is additional risk when selecting an adjustable
rate mortgage. Once that introductory period
comes to a close you should be prepared
to absorb an increase in payments and/or
prepare yourself to refinance. In a depreciating
real estate market, you should be especially
careful as you may find yourself in a position
where you cannot refinance out of an ARM
due to the fact that your home may be under
water (worth less than what you owe). This
happened to thousands of homeowners throughout
the Country in the early 2000's.
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Search for Mortgage Lenders and Brokers serving your area:
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Mortgage & Insurance Research
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Check ARM Rates With These Additional Lenders
and Brokers
You can find low adjustable mortgage rates
with American Financial Resources
including FHA ARM programs. AFR is a mortgage
lender which serves a multiple state
footprint. You can reach the toll-free at
800-316-9508.
Gateway Bank Mortgage has a variety
of ARM refinance products and adjustable
rate purchase loan programs to consider.
They are a NC
mortgage bank that assists consumers
in MD, VA, NC, SC, GA & FL. Contact
them today at 877-728-3569 for more information.
American Bank has competitive adjustable
mortgage rates for conventional and a variety
of government back, low money down mortgage
programs including FHA loans and VA mortgages.
To request current interest rates, complete
the Rate Quote Form or the Pre-Qual Form
on their web
site.
The Decker Group consists of a Texas
based mortgage professionals offfering
competitive adjustable mortgage rates in
both Texas and Oklahoma. To learn more about
their products and services, call 972-591-3097.
Note: If you are a mortgage lender or broker
that offers ARM programs and would like
to advertise on BurlingtonMortgage.biz,
please call 910-547-6910.
Related searches:
10
Year ARM
7
Year ARM
5
Year ARM
3
Year ARM
1
Year ARM
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