Tag ARM Loan

Tag ARM Loan

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 Keep Reading...

Prime Rate – What is it?

John Thomas July 21, 2007 Tags: , , , , ,

Prime Rate – What is It?

Prime Rate or Prime Lending Rate is the overnight lending rate that banks charge other banks to lend money.  It is based on the Federal Funds Rate.  Prime is typically about 3% above the Fed Funds Rate.  So if Bank A borrowers money from the Federal Reserve at 1% it will then lend to Bank B at 4%.  The 4% rate charged to bank B is the Prime Rate. Keep Reading...