|
1) Fill out one simple form (no social req.) 2) Instantly matches you with 5 top lenders 3) Sit back and compare mortgage quotes
|
Option Arm
The option arm mortgage can be ideal for those that need the flexibility of low payments such as self employed or those on commissions and income will vary from month to month. For the masses, this may not be the best option.
The option arm is the most misrepresented mortgage product in the industry. This mortgage has become popular in recent years because it allows you to make a monthly payment that's lower than the interest that has accrued that month. Mortgage Lenders and Brokers latched on to this program to promote heavily because they could advertise extremely low payments to bring better responses.
Unfortunately there are many mortgage companies that do not tell the borrower the down sides of this mortgage. Many even fail to tell them that the option arm is a one month adjustable rate mortgage. Borrowers were even being told that their rate was 1% for 5 years. The truth is that the 1% is what your payment is based on, not underlying interest rate. Just recently a new option arm mortgage has hit the market that is much more stable (see below). don't be scared off just yet, if you need the flexibility of a low mortgage payment, this program can really work for you. It's just very important that you talk to a good mortgage broker and/or lender that will tell you the pros and the CONS of this mortgage loan. That's where this free service comes in to play. We have established a base mortgage companies within our network that we feel are the most ethical and upfront. Just fill out the one minute form and we will refer you to the right mortgage companies. Compare mortgage lenders to get the best option arm mortgage.
5 Year Fixed Option Arm
This is a new version of the option arm mortgage. If you are going to choose an option arm, this is the best way to go. It gives you the same low payments but now gives you a true fixed rate for 5 years. Wouldn't you rather have a fixed rate for 5 years than a mortgage rate that adjusts monthly? Of course you would, it's a no brainer. There are only a handful of lenders that offer this program. It would be difficult to find these lenders since there are tens of thousands of mortgage companies throughout the United States. The good news is that we have most of the lenders that offer the 5 year fixed option arm within our network. Just fill out this one minute form and you will be referred to the right lenders.
Articles and Advice
Real Estate affiliations costing homeowners thousands. You must be aware of these real estate affiliations. If your not, then you run a high risk of overpaying on other services that are necessary in completing your mortgage loan. Over 86% overlook this money saving tip. Read more.
When should I refinance? There are many variables when it comes to determining if a refinance is really worth it or if it's the right time. Use this page for helpful information on determining if refinancing is right for you. Read More.
Hot new mortgage products. There are a few new products on the market that can really benefit the right person or become a nightmare for another. Get the pros and cons and see if one of these new products are right for you. Read More.
Free Mortgage Advisor. Use our online advice line to ask all you want from comparing mortgage quotes to the closing of your loan. This advisor is free when you this service to compare option arm loans. Ask us questions about the home purchase or refinance that you are considering. You can even ask us which option arm loan is better. This is a valuable service that may save you hundreds or thousands of dollars when going through the mortgage process with any lender.
Mortgage Tips Top 10 Mistakes Compare Lenders Loan Programs Mortgage Advice About Us