Adjustable rate mortgages. ARMs. Hybrid loans. However or whatever you want to call them, loans that do not have a fixed rate for their full term are starting to come back in to the market. With good reason, I might add. By an adjustable rate mortgage, I am referring to loans that have a fixed rate for a certain period or portion of the loans’ entire term. After this pre-determined period of time has elapsed, the loan will begin to adjust for the remainder of the term. In most instances the loan will adjust one time per year based upon …
Source: Vail Daily Feed
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