An adjustable-rate mortgage is a home loan when an interest rate adjusts over time based on the market. ARMs generally start with a lower interest rate than a fixed-rate mortgage, so an ARM is a great option if your goal is to get the lowest possible rate up front and don’t wish to live thereContinue reading “What is an adjustable rate mortgage (ARM)?”
Tag Archives: mortgage
Homebuyers Guide: Tips For Getting Started With Your Search
Ok, this is a longer article than usual but only because it is SOOO important. There is a method to the madness of beginning your home purchase. After all, buying a home for the first time can be life-changing. It’s a major investment, a major commitment, and oftentimes the start of a whole new phaseContinue reading “Homebuyers Guide: Tips For Getting Started With Your Search”
Rising Mortgage Rates While You’re Waiting For Your Home to Be Built
In the current market of high demand and low inventory, it’s common practice to be outbid numerous times when trying to purchase a home. Therefore, lots of homebuyers are opting to forgo the bidding wars and simply build a house. This can be an attractive option on paper but not necessarily simple. Labor shortages andContinue reading “Rising Mortgage Rates While You’re Waiting For Your Home to Be Built”
Why a Bank Statement Loan Could be the Answer to Your Prayers
Not common but a less known type of financing is the bank statement loan. What are they? I got this question from a small business owner recently who was trying to purchase a home. They are essentially a type of loan that allows a buyer to get a mortgage without the traditional documents (taxes, paystubs,Continue reading “Why a Bank Statement Loan Could be the Answer to Your Prayers”
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