Is An Adjustable Rate Mortgage A Good Idea

Is a 5-year ARM loan a good or bad idea for someone in our situation?" The 5-year adjustable-rate mortgage loan is a good idea in certain scenarios, and a less wise choice in other situations. It mostly depends on your long-term plans and your appetite for risk.

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An adjustable rate mortgage, called an ARM for short, is a mortgage with an interest rate that is linked to an economic index. The interest rate, and your payments, are periodically adjusted up or down as the index changes.

Are Adjustable Rate Mortgages a Good Idea? – CT Homes LLC – Are Adjustable Rate Mortgages a Good Idea? Posted by JD Esajian // September 16, 2011 Because of their low initial interest rates, adjustable rate mortgages can be enticing to potential homeowners who are looking to finance a house.

What Is an Adjustable Rate Mortgage (ARM) and How Does It. – An adjustable rate mortgage (ARM) is a type of mortgage where the interest rate you pay on your home periodically changes, which impacts your monthly mortgage payment. The interest rates you’ve probably seen advertised for ARMs are usually a little bit lower than conventional mortgages.

What Is an Adjustable Rate Mortgage (ARM) and How Does It. – An adjustable rate mortgage (ARM) is a type of mortgage where the interest rate you pay on your home periodically changes, which impacts your monthly mortgage payment. The interest rates you’ve probably seen advertised for ARMs are usually a little bit lower than conventional mortgages.

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An Adjustable Rate Mortgage is a Good Idea When.. Adjustable rate mortgages can be a good choice for borrowers who anticipate financing a property for a relatively short period of time, say three to five years. ARMs can offer lower, "teaser" rates that are usually lower than fixed mortgage rates. And when caps are applied, an ARM may be the better overall choice.

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Is a 5 Year Arm a Good Or Bad Idea? | Yahoo Answers – The ARM is only a good thing if you know 100% that you are going to be able to sell, or refi before the ARM resets. You would not be able to do either, without paying down the amount of the mortgage, if the amount owed was greater then the current resale value of the home.

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