ARM’s Aren’t What They Used to be
Today’s adjustable rate mortgages are a lot different than they were in the past. They may be the best choice for your purchase or refinance.
ARMS Are Smarter
Most people stay in their mortgage for only 5 to 7 years so why not go for the lower rate? With an Arm, more of your payment goes toward the principal, so you pay down your mortgage faster. If you end up staying in your home for longer than 5 to 7 years you can always refinance into a 30 year fixed option.
ARMS Can Save You Money
A lower rate means a lower payment, which means more cash in your pocket month to month. If you are on a tight budget now this can be an excellent option for you.
ARMS Are Safer
Arms no longer feature heavy pre-payment penalties, so you can easily refinance if interest rates rise. With easily identifiable caps and indexes, you’ll never have to worry about a big balloon payment.
Call us today to see if an adjustable rate mortgage is right for you!