Adjustable-rate mortgages are making a comeback, find out how you could benefit.
Adjustable-rate mortgages have been nonexistent (in terms of what my clients have been wanting) for the last five years, especially for just a regular conventional loan or a government loan FHA or VA. But the adjustable-rate mortgages are getting more competitive again.
Everyone feels differently about adjustable-rate mortgages. Obviously they adjust, and so a lot of people don’t want that kind of unknown in their life- the possibility of their monthly payment changing- but it can be helpful. For example, you can get an adjustable rate that’s fixed for the first five years.
So this can be good for someone who’s buying a condo that they know they’re going be growing out of soon. Or maybe they’re going to school here, but they’re going be moving out state, and they don’t want to keep the home as a rental. Or sometimes you have someone who just likes to play the market a little bit and likes to get the better deal on the adjustable market. That can turn out really well for people sometimes.
When we see a sweet mortgage deal like this that comes along, we want to let you guys know about it. We look forward to talking with you soon about the latest sweet mortgage deal!
Ready to start your own low-rate mortgage? It’s easy…
About Post Author
