 | | | President/Owner | |
John Hill
johnhill@kw.com
480-385-9499  | | | Office Manager/Realtor | |
Christine Matthews
Office Manager/Realtor
(480) 632-4209  | | | Office Support | |
Chelsea
Office Support
(480) 632-4209 Kristi Pendgraft
Listing Specialist
(480) 862-3610 Tana Sheets
Lead Buyer Specialist
(480) 202-3906
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Financing Your Home >More On ARMs
Lenders are always looking for new ways to help buyers get into the home of their dreams. Today they frequently use adjustable rate mortgages (ARMs) to increase the buyer's options. The interest rate on an ARM changes periodically to reflect changes in the national market. Since the loan starts at a rate that is lower than the national average, lenders can reduce the borrower's qualifying criteria.
One way to distinguish between different ARMs is by the national index to which they are tied. Some ARMs are tied to a slow-moving index called the cost-of-funds index; these are usually the most desirable. ARMs that are tied to a more volatile index, such as Treasury Notes, can be adjusted upward at a quicker rate. Look at all the factors before choosing a loan. The faster index loan may start out with lower rates and lower monthly payments, but the slower index ARM may eliminate your concern about having to re-finance down the road.
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| Q |
What is one of the most common ways for making the interior of a home more appealing to buyers?
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| A |
Repainting walls with light, neutral colors makes it easier for a buyer to visualize how the home will look with their possessions. |
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