Yesterday I posted part 1 of a 3 part series that helps explain adjustable rate loans to consumers on Zillow’s Mortgages Unzipped blog. Here’s an excerpt:
Here are some basic questions you should ask yourself before looking for an ARM:
1.) Do I know how long I will keep this loan or property?
2.) Will I be able to budget for a fluctuating payment once the rate begins to adjust?
3.) Is the risk of an adjusting rate/payment worth the savings of an initial, low interest rate for my goals?
Here’s a LINK TO THE REST OF THE ARTICLE
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