Monday, March 17, 2014

Should You Get an Adjustable Rate Mortgage?

Wall Street Journal Reports that ARM's are BACK in Style

Who wouldn't want a loan that starts out with low interest rates and low payments for 5, 7, or even ten years, and then only goes up if the interest rates at that time are at certain levels based on the contract?  It sounds like a very sweet deal, and as the chart above from the Wall Street Journal shows, folks who are spending a lot of money on a home are getting ARM's at a very high percent.

So, should you get an adjustable rate mortgage
?  Or are you better off with a fixed rate?

You are likely to be very surprised by what Bill has to say about the choices.  He presents historical evidence to prove that there are likely benefits to fixed rate mortgage over the long term.  However, that doesn't mean that a fixed rate is right for you.  Bill makes a clear and concise argument for the type of loan you might prefer based on your circumstances, and even partly based on your personality. 

If you would like to get a more personal an in-depth consultation with Bill that can look very directly at your own specific circumstance, don't hesitate to pick up the phone and call 424-354-5325. Bill will gladly provide you with ideas and direction based on his many years of experience.  And there is no cost or obligation for the time spent. 

1 comment:

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