- As Rates Rise ARMs Become More Popular :: Real-Estate-Informant.com

Tuesday, 07th February 2012

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As Rates Rise ARMs Become More Popular
Added: 12/24/2003 Type: Summary Viewed: 934 time(s) [ Not Rated Yet ]

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As Rates Rise ARMs Become More Popular

HomeLoanCenter.com, the leading online full spectrum mortgage lender announced that the rise in interest rates has fueled the demand for adjustable rate mortgages (ARM). ARM programs typically offer lower interest rates than traditional fixed rate loans. In general borrowers can secure an interest rate one percentage point lower on a five-year ARM than on a 30-year fixed loan program.

What is an ARM?

Unlike fixed-rate mortgages, which lock in a rate for the entire life of the loan, ARMs guarantee a certain interest rate for a shorter period of time, ranging from one month to 10 years.

Is an ARM right for you?

For many first time buyers ARMs can be the best option. Today's homeowners no longer live in a home for 20 or 30 years. If you only plan on being in your home for 5 to 8 years and want to save money, then an ARM may the be right choice for you.

For more information about ARMs and other mortgage options visit www.homeloancenter.com or call 1-800-94-CENTER and speak with a qualified mortgage banker.

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