Tag Adjustable Rate Mortgage

Tag Adjustable Rate Mortgage

Delaware Adjustable Rate Mortgages

John Thomas July 28, 2008 Tags: , , , , , ,
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Delaware Adjustable Rate Mortgages

Delaware Adjustable Rate Mortgages (ARMs) are mortgage loans with interest rates that can change or adjust.  Delaware ARM loans usually start with lower monthly payments than fixed-rate mortgages because they have a lower “teaser” rate.  With a fixed rate mortgage, the interest rate stays the same during the life of the loan which is the entire term. Call 302-703-0727 to apply for an Adjustable Rate Mortgage or for more information.  You can also APPLY ONLINE

For example, a 30 year fixed rate mortgage has the rate fixed for the entire 30 years.  With an ARM Loan, the mortgage interest rate is only fixed for a set period of time and then changes periodically and payments may go up or down accordingly as the interest rate adjusts. Keep Reading...

Fully Indexed Rate on ARM What is it?

John Thomas August 12, 2007 Tags: , , ,
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Fully Indexed Rate – What is it?

When you get an Adjustable Rate Mortgage (ARM) you get an initial rate that is fixed for a certain period of time say five years for example. After the first five years of the loan, your interest will begin to adjust based on two factors: your index and your margin.  The mortgage interest rate that your mortgage loan will adjust to after the fixed period is called the Fully Indexed Rate.

Fully Indexed Rate is the combination of the index the mortgage lender has chosen plus the fixed margin the mortgage lender places on the mortgage loan. This is often different than the initial rate offered, or the start rate.  The fully indexed rate will only fluctuate at the adjustment period of your ARM, and may be subject to caps that determine how much they may increase within a certain time period. Keep Reading...