Adjustable Rate Home Loan
by Thinking about ARMs
Ask Kate about 4 year adjustable rate home loan programs: Hi Kate, I am thinking about combining my truck loan with my mortgage loan. Is refinancing to a 4 year ARM a good or bad idea? Can you tell me if an ARM is a good idea or bad idea because my bank has offered me a 4 year adjustable rate home loan.
Kate Answers: 4 Year Adjustable Rate Home Loan
Adjustable rate home loan programs rival the number of stars in the sky.
Some gurus swear by adjustable mortgage products. Others tell you to run away and don't look back. So who is right? Both... followed by "but".
Here's the thing. While adjustable rate home loan programs may work well for one homeowner, the very same loan could spell disaster for another.
The trick is in identifying your goals, proper planning and getting answers from your lender.
Planning Before You Get an ARM
Are adjustable rate home loan programs good or bad? The answer depends on your goals and circumstances. Go to Adjustable Mortgage Rates
for more help on this.
Avoiding ARM Surprises
Understanding your ARM helps you anticipate and avoid surprises. With proper planning, an adjustable rate home loan can be manageable. Click here to learn How To Avoid ARM Surprises
Questions to Ask Your Mortgage Originator
Now for questions. Scroll down Easy Path To Low Mortgage Payments
until you reach Adjustable Rate Mortgage (ARM) Questions
. You will find a number of questions that are crucial to ask. Take notes when you ask these questions and write back if you aren't sure about answers you get.
Good luck and best wishes,
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