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Mortgage Professor about arm vs fixed rate: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed-Rate vs Adjustable Rate vs Balloon Mortgages
November 11, 2001 "My broker has offered me the following 6% loans: a 30-year fixed-rate at 1.125 points; a 7/1 ARM at 1 point; a 7-year balloon at 0.375 points; a 5/1 ARM at .875 points; and a 5-year balloon at 0 points. How do I decide which mortgage is best for me ... more... Do Interest-Only Mortgage Loans Amortize Faster? 5 April 2004 "Here are the figures provided by my loan officer. The payment on the 30-year 5.5% fixed-rate mortgage is $567.79 for each $100,000 of loan, of which only $109.46 is reduction of principal. On the interest-only, the rate is 3% and the payment only $250. If you ... more... |
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arm vs fixed rate related definitions |
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Variable Rate Mortgage
Variable Rate Mortgage The variable rate mortgage, affectionately know as Adjusatuble rate mortgage or ARM is a mortgage with a rate that will adjust over time. You may be familiar with the term three year ARM, or five-year ARM. ... more... Adjustable Rate Mortgage, ARM Adjustable Rate Mortgage (ARM) Also known as a variable rate mortgage. The interest rate on these mortgages changes periodically. Variable or adjustable loans are loans whose interest rate fluctuates over the period of the ... more... |
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More about arm vs fixed rate Mortgage: Rehabilitation Of Financial Helplessness Adjustable Rate Mortgages - Understand the Benefits Compared to a Fixed Rate Mortgage Mortgage Glossary - A Glossary of Mortgage Terms You Should Know How To Save Money On Your Mortgage Mortgage Loan Information - Know The Basics When You Refinance or Purchase a Home Introductory Offer Versus Lifetime Low Fixed Rate Mortgage Loans - Understanding The Basics What You Should Know about Home Loans What Length Mortgage Is Right For You? Know Your Mortgage Options
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